Apple Is The Worst Hit Company By The US-China Trade War Followed By Facebook
Amazon, Apple, Facebook, Google and Microsoft lost $228 billion in the US stock market in two trading days ahead of the September deadline for imposing additional tariff on Chinese goods by the Trump administration.
Loss making companies in the US stock market
The Big Tech companies reported a net loss of $66 billion on the last trading day of the week. These firms again reported loss of $162 billion in the opening week. Out of the five companies, Apple was the worst hit with its market value plummeting by 5.2%. Monday was the worst trading day for Apple after May 13 when it reported a loss of 5.8%. Apple depends on Chinese market for sale and production.
Facebook was the second worst hit company. This media giant saw its market value plummeting to 4.6%. Google’s parent company Alphabet reported a loss of 3.4%. Microsoft and Amazon reported a loss of 3.4% and 3.1% respectively.
Apple’s soaring sales will have no impact
Apple Inc. reported good revenue in the recent quarterly results but the stock market experts see just the opposite. The soaring sales and profit … Read the rest
