Apple’s shares slid to their lowest point since January on Wednesday morning before its five-day losing streak finally halted as buyers emerged.
The world’s most valuable company has been hit by investor concern about its business in China, where there are signs economic growth is slowing and where Apple has recently slipped from its pre-eminent position in the smartphone market.
Despite Tim Cook’s bullish comments on China during Apple’s recent third-quarter earnings call, investors have sold off the company, wiping more than $111bn off its market value since July 21, a 15 per cent drop.
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