Hong Kong (CNN Business)From iPhones to autos, global brands rely on China for growth. Now the country’s economic slowdown is putting their earnings at risk.
Apple (AAPL) on Wednesday said that it expected a weaker Chinese economy to hurt its holiday sales numbers, prompting its stock to plunge up to 8% in after hours trading. CEO Tim Cook said in a letter to investors that the company had been blindsided by “the magnitude of the economic deceleration” there.
