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Wall Street calls Apple's selloff on China concerns 'overblown'

September 8, 2023
Source: finance.yahoo.com finance.yahoo.com
News Snapshot:
Apple (AAPL) stock fell more than 6% earlier this week after Chinese officials told employees at central government agencies to not use iPhones at work. A new high-end phone release from China's Huawei also added pressure on Apple and came just days before the company releases its new iPhone 15. But Morgan Stanley analyst Erik Woodring wrote Friday these headlines are "more bark than bite," even with China representing about 20% of Apple's revenue in its most recent quarter. "We believe Apple's 2-day -6% stock move suggests the market thinks recent China headlines will evolve into something broader," Woodring wrote...
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