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Apple Shares Drop After Goldman Sachs Report

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According to Business Insider, Apple is trading down after Goldman Sachs issued a warning to investors. Apple shares are down about 1.5-percent on the day, but they fell almost 2-percent during morning trading. The slump followed a report from Goldman Sachs analyst Rod Hall, who noted signs of slowing consumer demand in China. Hall expects Apple's earnings to be impacted by slowing demand in China. But slowing consumer demand in China is partially attributed to their economy slowing down. Data from China shows that the Purchasing Managing Index dropped half-a-percent between August and September. Which is why Hall expects smartphone demand to drop by 15-percent during the third quarter of 2018.

Added on the 15/10/2018 14:06:09 - Copyright : Wochit

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