Apple stock drops below $ 100

On Monday, amid the general fall in the Dow Jones index, shares of the American corporation Apple fell by more than 6%. The reason for the fall - concerns about the prospects of the Chinese economy, because China gives up to 25% of the corporation's revenues.

Shares of Apple technology corporation fell on Monday in trading before the opening of the exchange session on 6,7%, to $ 98,65. Later, shares rose to $ 103. The fall in stocks of the corporation occurred against the background of the strongest in the whole history of the fall of the Dow Jones index.

On Monday, at the opening of the US trading session, the Dow Jones index fell by 1089 points. This reaction of American investors was a response to the new fall of the Chinese stock market that occurred this morning. An hour after the start of trading, investors calmed down a bit, and Dow Jones partially regained lost ground - a decline to Friday was 470 points (2,85%).

Sanford C. Bernstein analyst Tony Sacconagi said: “25% of Apple's revenue comes from China, and anxiety about the general state of the Chinese economy is growing. We observe that other manufacturers of premium goods have begun to report weakening in China, I think investors here can extrapolate. ”

At the same time, Apple CEO Tim Cook told CNBC television on Monday, in July and August, the corporation's business in China continued to show steady growth. “I receive information about our work in China every day, including this morning, and I can tell you that our business in China in July and August showed strong growth. The growth in the number of iPhone activations has accelerated in the past few weeks, and the App Store’s activities in China over the past two weeks have been the best for the year, ”he said.