At the end of last week Apple shed over $200 billion in market value. Its decline rendered it the worst performing member of the Dow Jones Industrial Average.
Why the correction in its share price? It’s always a bit of a fool’s errand to explain the movements of shares processing endless amounts of news from all over the world, but the most frequently cited culprit for Apple’s woes involved China. Various media accounts (since walked back) indicated the Chinese government was leaning toward banning the use of iPhones by government-backed agencies and companies.
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