Tim Cook Forced To Respond To Apple Stock Slide
The current turmoil ripping apart China's financial sector has had a serious knock-on effect on Apple's share price in the US, presumably as investors see China as Apple's biggest growth market, and consequently are wary of anything that may affect sales there.
The slide in Apple's stock price has been so pronounced - a third has been wiped off Apple's market cap since its last financial call and as a result Tim Cook has had to take the unusual step of making sales information available to the market outside of Apple's normal reporting schedule.
In a note to Jim Cramer Cook reported that Apple had seen "strong growth for our business in China through July and August" and that "growth in iPhone activations has actually accelerated" which suggests that whatever the problems China is experiencing they aren't affecting the appetite for Apple's products.
Whether the general malaise that China's problems are spreading through the world's stock markets continues to affect Apple's remains to be seen, but at least those investors edgy about the affects on Apple's Chinese sales should rest a little easier now.