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Economic deceleration in China had caught Apple off guard and trade tensions between Washington and Beijing were starting to hurt consumer spending on smartphones in China, Apple Chief Executive Officer Tim Cook said on Wednesday emergency cufflinks. Cook in November had cited slowing growth in emerging markets such as Brazil, India and Russia when Apple gave first-quarter sales estimates that were lower than expected. But he said then that he “would not put China in that category” of countries with troubled growth..
The China slowdown comes as Apple faces other obstacles in some of its biggest markets. Qualcomm Inc said it had posted security bonds to enforce a court order banning sale of some iPhone models in Germany, meaning Apple would likely have to pull iPhone 7 and 8 models from its 15 stores in the country emergency cufflinks. The German case, part of a global patent spat between the two companies, is Qualcomm’s third major effort to secure a ban on iPhones over patent-infringement allegations after similar moves in the United States and China..
Wall Street analysts scrambled to cut their price targets on Apple, with at least 27 lowering their estimates. The current median price target is $186. Shares of U.S.-based Apple suppliers and chipmakers including Cirrus Logic Inc, Skyworks Solutions Inc, Analog Devices, Broadcom Inc, NXP Semiconductors NV and Micron Technology Inc all tumbled emergency cufflinks. Many analysts and investors had worried about a slowdown in iPhone sales since the company said in November it would stop disclosing unit sales data for its phones and other hardware products..
Apple’s latest comments fueled worries that its relatively high-priced devices may be falling out of favor in China, where rivals such as Huawei Technologies Co Ltd [HWT.UL] offer cheaper options emergency cufflinks. Peter Richardson, a research director at Hong Kong-based Counterpoint Research, said it was difficult to see a catalyst that would help Apple recover lost ground in China. “Until it changes this pricing strategy, it is unlikely to see market share growth and will most likely see a gradual contraction as iPhone users upgrade at slower rates,” said Richardson..
RIO DE JANEIRO (Reuters) – Brazil’s government and state-run oil firm Petroleo Brasileiro SA (PETR4.SA) expect to resolve a dispute over the oil producing zone known as the ‘transfer-of-rights’ area within 100 days, a minister said on Thursday emergency cufflinks. A dispute over the oil in the zone, and the price of it, dates back to 2010, when the Brazilian government granted Petrobras the right to extract 5 billion barrels of oil and gas in the offshore Santos Basin. Both the government and Petrobras had claimed to be creditors..