Apple’s share price fell to its lowest level since October 2014, as concerns about slowing growth in iPhone sales outweighed news of strong performance in the App Store last year.
Shares in the world’s most valuable company fell close to $100 yesterday morning, compounding Tuesday’s falls after the Nikkei Asian Review wrote that Apple had cut iPhone orders by as much as 30 per cent with suppliers.
Concerns were compounded by comments from Foxconn, a leading iPhone manufacturer, that it had been offered local government subsidies to maintain staffing levels, despite cutting production.
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