AAPL Plunges To 5 Week Low (Sub-Icahn) As Chinese Telcos Slash Subsidies

AAPL Plunges To 5 Week Low (Sub-Icahn) As Chinese Telcos Slash Subsidies

It is tough to see the exact catalyst for the collapse in AAPL’s share price in recent days (though it is clear that no China Mobile news is not good news) – but then aside from Carl Icahn’s tweets it was hard to see what the exuberance in August was. Now a month later, AAPL has retraced all Icahn’s gains and then some and is trading at 5 week lows. Today’s weakness – in the face of a surging broad market – is being pinned on talk of Chinese telecoms firms cutting subsidies – not exactly strategically in line with AAPL’s growth goals.

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