It has been declared that Apple might have problem with China because China reported better domestic product growth in the second quarter, growing 7% against expectations for a 6.9% expansion. But this growth rate is China's slowest in over two decades. Apple's disappointing quarter may be confirmation that China's economy is not only slowing, but slowing more dramatically than markets expect.
In a note to clients after Apple's third-quarter results, analysts at Cowen downgraded shares of Apple to "Market Perform" from "Outperform."
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