Is Apple
recession-proof? After it launched the iPhone in 2007 sales soared for years, unaffected by the global financial crisis. But the recent market panic in China has spooked Apple shareholders. Last week the share price seemed to be moving in tango with the gyrations of the Shanghai stock market.
China is Apple’s most important market. Among US companies, Apple is one of the most exposed to China. More than half of Apple’s growth and 30 per cent of sales came from China in the latest quarter. The Apple Watch, released in April, has certain editions aimed squarely at Chinese consumers (yellow gold with auspicious red leather band, yours for $17,000).
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