Apple (AAPL) investors are worried about the iPhone maker’s growth prospects. Apple stock fell as much as 3.4% in early trading on the stock market today. By midday, however, shares were up a fraction, near 114. On Tuesday, shares of the Cupertino, Calif.-based company fell 5.2% to 113.49. Apple stock has fallen 14% since July 20, just before the company announced June-quarter earnings, its fiscal Q3. Much of the decline reflects wide concerns
Alibaba (BABA), JD.com (JD) and other Chinese stocks, along with Apple (AAPL) and other U.S. firms that do a lot of business in China, took hits Tuesday on the yuan’s devaluation against the dollar. The People’s Bank of China let the yuan depreciate nearly 2% vs. the dollar, and investors are worried that the devaluation will boost dollar-denominated debt for Chinese firms and hit dollar-based earnings. The move also raised concerns that the
Apple (AAPL) stock got slapped on the wrist Tuesday after a new report showed “lackluster interest” in the company’s Apple Watch smartwatch. UBS analyst Steven Milunovich said his firm’s analysis of global Internet search activity for the Apple Watch continued to indicate “tepid” demand. Apple stock was down about 5%, under 114, in afternoon trading on the stock market today. “Interest is lower (for the Apple Watch) than for earlier Apple products