Market swoon raises stakes for US-China trade talks next week

The new iPhone models that aren't being taken up

It was its first forecast slash in more than 15 years.

Some analysts questioned the extent to which Apple's travails were reflective of broader macro trends as opposed to being company-specific.

Greater China is an informal term usually used by multinational companies to refer to their business operation area that encompasses the Chinese mainland, Taiwan, Hong Kong and Macau. Revenue from this services category hit almost $10 billion in the three months ending in September, an impressive figure and an increase of 17 percent from the same period a year ago.

And US President Donald Trump could become more open to settling the trade dispute with China. It's the result of market competition, rather than economic deceleration. Apple's (APPL) announcement rattled investors and global markets. Retailers and internet companies rose as well, with Amazon up 5.3 per cent at $1,580 and Google's parent company, Alphabet, rising 4.7 per cent to $1,073.

Shares of Apple's suppliers also fell, and S&P 500 futures dropped 1.3 per cent, signalling that Wednesday's modest advance could unwind when the market reopens on Thursday.

China is the biggest beneficiary of Apple, more than us, because they build their product mostly in China.

"I$3 n the modern iPhone era last night was clearly Apple's darkest day in our opinion and represents a challenging growth period ahead for the company (and its investors)", Daniel Ives, an analyst at Wedbush Securities, said in a note to clients Thursday. Some pessimistic economists have even projected an imminent global recession.

Apple's stocks have turned bearish since November 20, 2018 and now are 37.68 percent lower than its historical high of 232.07 US dollars per share set on October 3, 2018, despite over 1.7 percent of rebound in the early morning session on Friday amid an overall rise of USA stock markets.

More news: Netflix poaches its new CFO from Activision

The Labor Department said hiring ramped up in December, which could allay fears about an economic slowdown in the U.S. Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday.

In both countries, the trade war has soured the economic outlook and shaken financial markets.

"The much larger issue is the slowing of the (Chinese) economy, and then the trade tension that has further pressured it", Cook said.

The first two volatile trading days of the year are the S&P 500's worst two-day start to a trading year since 2000, according to analysts.

The biggest fear for Apple investors, Ives said, is a customer base that stalls out, failing to grow over the next few years and triggering a "nightmare scenario decline". "'Make your products in the United States, '" Trump said. The Nasdaq rose 275 points, or 4.3 percent, to 6,738.

Apple shares were down 9.8 percent at $142.40. "We continue to believe Netflix's investment in content, technology and distribution will continue to drive subscriber growth well above consensus expectations both in the USA and internationally".

With over 20 factories, multiple research and development centers as well as logistics and parts centers, heavy equipment maker Caterpillar employs over 10,000 people in China, accounting for over 10 percent of its total employment. Copper rose 3.1 percent to $2.65 a pound.

In the fiscal year ending September 30, 2018, USA telecommunication player Qualcomm Inc. earned 15.149 billion dollars of revenues from the Chinese market, which stands for as much as two-thirds of its total.

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