Apple suppliers take a hit after iPhone sales slump warning

Apple shares plunge nearly 10% behind revenue warning

"I want Apple to make their iPhones and all of the great things that they make in the United States, and that'll take place". Sales in China, which The Wall Street Journal says account for nearly 20 percent of global sales, have dropped amid President Donald Trump's trade war with Beijing.

The U.S. tech giant Apple saw its stock price plunging more than 9 percent in early trading on Thursday after the company issued lower guidance for fiscal 2019 first quarter.

China-based smartphone maker Huawei - a company that could be on track to surpass Apple in terms of overall smartphone unit shipments in 2019 - is gaining traction with its high-end P-series and Mate-series devices.

In a note titled "Apple's Miss: Bridging the Gap Between Perception and Reality", long-time Apple analyst Gene Munster from Loup Ventures said while the revenue miss was largely expected, the magnitude of the miss was disappointing.

Rotten news from Apple (NASDAQ: AAPL), Thursday.

The belt-tightening in the world's second-largest economy is bedeviling global industries, including autos and designer clothing, that count on China to drive sales growth.

The U.S. -China trade dispute threatens to snarl multinational companies' supply lines and reduce demand for their products. The S&P 500 technology companies had their worst day since August 2011.

Authorities in Brazil Make Massive Security Preparations for Inauguration
Brazil, he said, "is an vast country with enormous potential for Israel from an economic, security and diplomatic point of view". But Bolsonaro and Netanyahu have developed an increasingly warm relationship with similar views on security issues.

"The trade tensions between the United States and China put additional pressure on their economy".

"As the climate of mounting uncertainty weighed on financial markets, the effects appeared to reach consumers as well, with traffic to our retail stores and our channel partners in China declining as the quarter progressed", Cook added in his letter.

Some analysts said Apple erred in boosting the price of its new iPhones to well over $1,000 in a global smartphone market that is largely saturated and facing tougher competition. Other brands such as General Motors (GM), Volkswagen (VLKAF) and Starbucks (SBUX), which will report earnings in the coming weeks, could be affected. Cook said the trade-in program is one of the initiatives to improve the company's results in his letter, but he didn't specify his expectations for the promotion in China. "There's a hole in Apple's product portfolio - they do not have a low-cost smartphone to fully exploit emerging markets".

Battered by negative Apple news, U.S. stock indices dropped sharply on Thursday morning.

Traders braced for another dose of the turbulence that ruled equities all December after reduced guidance at Apple Inc. sent exchange-traded funds tracking major indexes falling. Japanese markets have tumbled as they reopened after the New Year holidays, while other Asian indexes are mixed after...

The reaction was less stark in other markets, with the FTSE 100 down by about 0.6% at the close though Germany's Dax and France's Cac 40 were more than 1% lower. Stocks in Asia closed with small losses.

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