13%

Finweek English Edition - - IN BRIEF - AP­PLE SHARES PLUM­MET The Guardian

The de­cline in Ap­ple’s share price at the open­ing of the NYSE on 24 Au­gust prompted CEO Tim Cook to com­ment on the com­pany’s out­look for China, a ma­jor growth mar­ket for the tech­nol­ogy firm. Cook, in an email to CNBC host Jim Cramer, said it con­tin­ues to see strong growth in its busi­ness in China, de­spite the tur­moil in Chi­nese stock mar­kets. The share re­cov­ered to close the day 1.7% lower. In­vestors have been con­cerned about the slow­ing growth in China, which rep­re­sents 17% of global GDP, and the im­pli­ca­tions thereof for the global econ­omy. China has ac­counted for nearly 30% of global growth since 2010, re­ported.

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