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In addition to the rate hikes, investors have been worried about excessive corporate borrowing, U.S.-China trade tensions, a partial U.S. government shutdown and the potential for slowing economic growth affordable cufflinks. While ETFs, used heavily by institutional investors, were stock buyers in December, mutual fund investors typically used by retail investors sucked out a record $86 billion, according to preliminary estimates last week from Lipper, a research service. Withdrawals from funds primarily invested in international stocks hit $9.3 billion, the most cash ever pulled, at least according to records dating to 2013..

NEW YORK (Reuters) – Yields on long-dated U.S affordable cufflinks. Treasury securities fell to their lowest in nearly a year on Wednesday on concerns about the health of the global economy, a worry exacerbated late in the day when Apple Inc (AAPL.O) cut its sales outlook and sent U.S. equity index futures tumbling. Throughout the first trading day of 2019 investors piled into safe-haven investments like longer-dated Treasuries and German bunds after weak data out of China and Europe was reported overnight and a partial shutdown of the U.S. government continued..

Yields on benchmark 10-year notes US10YT=RR fell to their lowest since late last January. They hit a fresh 11-month low near 2.62 percent late in the day when Apple announced sales would fall well short of previous forecasts largely because of a slowdown in demand for its iPhones in China. China’s economy was already of central concern after a measure of its manufacturing activity shrank for the first time in 19 months in December, hit by the Chinese-U.S affordable cufflinks. trade war, with the weakness spilling over to other Asian economies..

“Chinese PMI came in weaker than expected and gave a risk-off tone to global markets. There are now mounting concerns about global growth,” said Justin Lederer, Treasury analyst and trader at Cantor Fitzgerald affordable cufflinks. The 10-year note yield was last at 2.63 percent, breaching the key technical level of 2.64 percent. Ten-year yields fell nearly 6 basis points on the day, their largest one-day fall in a month. Other safe-haven investments also benefited in price from the flight to quality. The benchmark 10-year German government bond yield DE10YT=RR was down 7 basis points, last at 0.17 percent..

While U.S. stocks eked out modest gains on Wednesday to start the new year, after their poorest yearly showing in a decade in 2018, Apple’s weak sales forecast after Wall Street closed sent equity index futures sharply lower, bringing in further support for Treasuries. The grim readings from Asia’s and Europe’s purchasing manager surveys came ahead of the closely watched U.S. manufacturing survey on Thursday, payrolls data on Friday and the U.S. earnings season later this month, which is expected to show corporate profit shrank in the October-December quarter affordable cufflinks.

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NEW YORK (Reuters) – A top BlackRock Inc (BLK.N) investor focused on Latin American stocks is leaving the company, the world’s largest asset manager said on Wednesday cartier cufflinks gold. Will Landers, the veteran portfolio manager for the company’s Latin American equity funds and head of research for the region, is leaving along with two analysts based in Sao Paulo, Brazil’s financial center, the company said in a statement. Landers oversaw an estimated $2 billion in assets, according to BlackRock’s most recent filings with U.S. regulators..

Research analysts Andrea Cardia and Andrea Weinberg are also leaving to “to pursue other opportunities,” BlackRock Global Head of Active Equities Mark Wiseman and one of his colleagues said in a staff memo provided to Reuters. It was not immediately clear where the BlackRock employees will be going. Landers, Cardia and Weinberg did not respond to messages sent to social media accounts they maintain cartier cufflinks gold. BlackRock’s memo said that Ed Kuczma would take on some of Landers’ portfolio management responsibility duties, adding that Kuczma has more 15 years of investment experience in Latin American equities..

The transition comes during a wild period for investors focused on the region, whose swing to conservative rule in places, including Brazil, has isolated leftist-ruled countries such as Venezuela, a major oil producer. Brazil’s new far-right President Jair Bolsonaro was sworn in on Tuesday. Investors are also looking for progress on economic initiatives from Mexico to Argentina cartier cufflinks gold. BlackRock’s memo said the company is “working actively to strengthen our resources in Latin America research and portfolio management,” and planned to increase staff dedicated to that effort. It was not clear if the company’s active equities division will still have an on-the-ground presence in Brazil, and a BlackRock spokeswoman did not comment..

NEW YORK (Reuters) – U.S. fund investors anguished over economic growth and policies pulled the most cash from stocks in any weekly period since last February, Investment Company Institute data showed on Wednesday. Mutual funds and exchange-traded funds (ETFs) tracked by the trade group reported $37.8 billion in withdrawals overall, a 12th week of declines and the most cash pulled since a Chinese growth scare in August 2015. More than $21 billion tumbled out of stock funds during the week ended Dec. 26, the most since February 2018 cartier cufflinks gold.

And while the withdrawals amount to a sliver of the overall assets in such funds, fast-declining sales of funds reflect deteriorating sentiment as people stockpile cash. The major broad U.S. stock indexes turned in their worst year since the 2008 financial crisis in 2018, as investors adjusted to slowing growth expectations and the Federal Reserve’s attempts to restore U.S cartier cufflinks gold. monetary policy to pre-crisis levels of interest rates and unload the bonds it bought to encourage risk-taking. The year ended with a week of major swings up and down in those indexes..

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NEW YORK (Reuters) – Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast mens cufflink sets. Apple (AAPL.O) dropped 8 percent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China. Shares of Apple’s suppliers also fell, and S&P 500 futures ESv1 dropped 1.3 percent, signaling that Wednesday’s modest advance could unwind when the market reopens on Thursday..

“To see Apple’s sales drop off this much says something about the Chinese economy,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Any company that does business in China will feel the impact of this.”. Stocks had started the session lower after separate reports showed a deceleration in factory activity in China and the euro zone, indicating the ongoing trade dispute between the United States and China was taking a toll on global manufacturing mens cufflink sets.

Energy .SPNY stocks led the S&P 500’s advance and the sector was the index’s biggest percentage gainer, buoyed by a 2.4 percent jump in crude prices mens cufflink sets. The group was the worst performing S&P sector in 2018. Gains were offset by healthcare .SPXHC and so-called defensive sectors, such as real estate .SPLRCR, utilities .SPLRCU and consumer staples .SPLRCS. Healthcare companies provided the biggest drag on the S&P 500 and the Dow. The Dow Jones Industrial Average .DJI rose 18.78 points, or 0.08 percent, to 23,346.24, the S&P 500 .SPX gained 3.18 points, or 0.13 percent, to 2,510.03 and the Nasdaq Composite .IXIC added 30.66 points, or 0.46 percent, to 6,665.94..

Of the 11 major sectors in the S&P 500, seven closed in positive territory. Banks got a boost from Barclays, as the broker wrote in a research note that the sector could outperform the S&P this year. The Dow Jones Industrial average was led higher with gains from Goldman Sachs (GS.N) and JPMorgan (JPM.N). Tesla Inc (TSLA.O) delivered fewer-than-expected Model 3 sedans in the fourth quarter and cut U.S mens cufflink sets. prices. The electric automaker’s shares slid 6.8 percent. General Electric Co (GE.N) jumped 6.3 percent in heavy trading as bargain hunters bought the stock in the wake of its over 50-percent plunge in 2018..

In the coming weeks, the fourth-quarter reporting period will get underway. Analysts see S&P 500 companies posting profit gains of 15.8 percent, significantly smaller than the third quarter’s 28.4 percent advance. Advancing issues outnumbered declining ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favored advancers. The S&P 500 posted no new 52-week highs and 4 new lows; the Nasdaq Composite recorded 9 new highs and 58 new lows mens cufflink sets. Volume on U.S. exchanges was 7.80 billion shares, compared to the 9.18 billion average for the full session over the last 20 trading days..

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Yet Buffett has made Apple a centerpiece of his portfolio of other company’s stocks, touting his own use of the Cupertino, California-based company’s products and saying at his annual shareholders’ meeting in Omaha last May, “We would love to see Apple go down in price,” so he could buy more at a bargain. Buffett sees Apple more as a consumer stock than a tech stock, reflecting the iPhone’s status as a must-have possession for so many people cufflink button. Including its after-hours drop on Wednesday, Apple’s stock market value has tumbled to below $700 billion from over $1.1 trillion at its peak in October. Although Apple has fallen behind Inc and Microsoft Corp in value, it remains one of Wall Street’s most widely held companies..

Shares of Berkshire itself have held up well even as the broader market sank last quarter. Last year, Berkshire returned 2.8 percent, while the S&P 500 fell 4.4 percent, including reinvested dividends. But the $3 billion hit to Berkshire’s Apple shares in evening trading on Wednesday could show in future reported earnings. Those figures do not reflect any long-term gains on Berkshire’s investments, and Buffett has encouraged investors to ignore the profit statistic mandated by U.S cufflink button. accounting practices..

(Reuters) – Teva Pharmaceutical Industries Ltd (TEVA.TA) said on Thursday it will pay an undisclosed amount to settle an ongoing dispute with Amgen Inc (AMGN.O) over its generic Cinacalcet HCl product cufflink button. The Israel-based drugmaker has also agreed to stop selling the generic product until its license date in mid-year 2021, or earlier under certain circumstances Teva said it recently received approval for the generic product and launched it in the United States. Cinacalcet hydrochloride is approved for the treatment of secondary hyperparathyroidism in adults with chronic kidney disease on dialysis and for the treatment of higher levels of calcium in adults with parathyroid carcinoma..

HONG KONG (Reuters) – Cathay Pacific Airways said it would guarantee thousands of first and business-class flights sold at huge discounts after a ticketing error, calling the mistake a surprise special on New Years Day. The Hong Kong based carrier acknowledged the error on its twitter feed on Wednesday, stating “we made a mistake but we look forward to welcoming you on board with your ticket issued. Hope this will make your 2019 special too!”. The tickets are for flights from Vietnam to New York on Cathay Pacific for around $675 return instead of about $16,000 normally cufflink button.

With the hashtags “Promisemadepromisekept” and “lessonlearnt” the carrier said it would maintain the economy fares. The fares were not available on Cathay’s website on Thursday. Online flight blogs and forums have been active with discussion on the deals since the error, with posts wagering on whether Cathay would honor the ticket fares cufflink button. Flyer Talk Evangelist wrote “Nobody here has noticed the hot mistake fare? .. Has been going on for hours. Wanna bet on the odd CX would honor this?”..

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“The price cut is what’s driving the stock lower, as it openly acknowledges the sunset of subsidy dollars is a material headwind,” said Craig Irwin, an analyst with Roth Capital Partners oversized cufflinks. But some said fears of eroded demand were overblown. Gene Munster of Loup Ventures calculated that the lowered tax credit equaled, on average, a 3 percent discount on a Tesla. If Tesla had a demand issue, therefore, the company would have cut its prices by more than 3 percent, he wrote in a note..

General Motors sold its 200,000th electric vehicle in the United States in 2018, similarly triggering a phase-out of the federal tax credit, a source said on Wednesday oversized cufflinks. GM declined to comment. Hargreaves Lansdown analyst Nicholas Hyett estimated in a client note that if Tesla continues to deliver cars at the current rate, the price cut will mean $700 million in lost revenue in 2019. Wedbush analyst Daniel Ives, meanwhile, said the price cut was “a potential positive” for demand, “but not what the bulls wanted to hear on the impact to profitability and ultimately the bottom line.”..

Tesla delivered 63,150 Model 3s in its fourth quarter, falling short of FactSet estimates of 64,900. Tesla said that based on its own compilation of analysts’ forecasts, its delivery numbers were in line with market expectations oversized cufflinks. Bank of America analyst John Murphy wrote that the numbers were in line with market consensus, though below the bank’s estimate of 71,500 Model 3s. Total deliveries rose from the third quarter to 90,700 cars, but missed forecasts, which had been influenced by analysts’ expectations of a surge in buyers looking to cash in on the tax credit before year-end..

Reuters calculated that Tesla’s third-quarter pretax profit was around $3,200 per vehicle delivered. That would mean a $2,000 price cut could eliminate more than half of that gain. For the first nine months of 2018, the company suffered a third-quarter loss per vehicle delivered of $8,019. Overall, total production rose 8 percent to 86,555 vehicles oversized cufflinks. The company churned out 61,394 Model 3s, up from a total of 53,239 Model 3s in the third quarter. “Tesla disappointed the market. The deliveries are below our estimates and the consensus estimates. I don’t expect that Tesla operates in the black in 2019,” said Frank Schwope, an analyst with NORD/LB..

(Reuters) – Billionaire Warren Buffett has said he would love to see Apple Inc shares decline in price so he could buy more. He is getting his wish. Apple’s warning on Wednesday about weak iPhone demand in the holiday quarter due to slower sales in China sent its stock down 7.5 percent during after-hours trading. Class B shares of Buffett’s Berkshire Hathaway Inc traded down 2 percent in the same session on Wall Street oversized cufflinks. Buffett, the folksy Nebraska investor known more for buying railroads, energy firms and classic American corporate brands than for his acumen picking tech stocks, in recent years has lamented missing the boat on buying shares in U.S. technology giants. He admitted an earlier investment in IBM Corp was not one of his best..

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The report prompted drug inspectors across India to collect talc samples from J&J facilities for testing. J&J has said the Reuters article was “one-sided, false and inflammatory”, adding that its Baby Powder was “safe and asbestos free”. J&J’s Baby Powder is one of the most recognized foreign brands in India rolex cufflinks. The company leads sales in the Indian baby and child toiletries market, which Euromonitor International estimates was worth $178 million last year. J&J’s consumer segment in India, which includes baby care products such as soap and talc, recorded sales of 31 billion rupees in the year to March 2018, marginally lower than the previous year, the company’s India filing showed..

(Reuters) – Tesla Inc (TSLA.O) on Wednesday cut U.S. prices for all its vehicles to offset lower green tax credits, and fell short on quarterly deliveries of its mass-market Model 3 sedan, sending shares of the electric vehicle maker down nearly 7 percent on worries of future profitability rolex cufflinks. Analysts questioned whether the $2,000 price cut on all models signaled lower demand in the United States, and ultimately whether the move would undermine nascent profitability at the Silicon Valley automaker, which has never posted an annual profit..

“In our view, this move could suggest that what many bulls assume to be a substantial backlog rolex cufflinks. for Tesla may be less robust,” wrote Bank of America analyst John Murphy in a client note. Chief Executive Elon Musk, who has often set goals and deadlines that Tesla has failed to meet, surprised investors by delivering on his pledge to make Tesla profitable in the third quarter, for only the third time in its 15-year existence. But the company is unprofitable for the first nine months of 2018, and cash flow remains a concern for investors..

Musk has been under intense pressure to deliver on his promise of stabilizing production for the Model 3, which is deemed crucial for easing a cash crunch and achieving long-term profitability. It said it was churning out almost 1,000 Model 3s daily, broadly in line with Musk’s promises but slightly short of Wall Street expectations rolex cufflinks. The company said it would begin delivering Model 3s to Europe and China in February. The price cut of $2,000 beginning on Wednesday on the Model 3 – as well as on its higher-priced Model S and Model X – took the market by surprise and weighed on the stock, pushing it down 6.8 percent to close at $310.12, after falling as much as 10 percent during the session..

The lower price comes as automakers expect U.S. new vehicle sales to weaken in 2019, and amid increased competition from new electric vehicle entrants. Tesla sales benefited from a $7,500 federal tax credit on electric vehicles throughout 2018, but that full credit expired at the end of 2018, and new buyers will now receive only half that amount. Under a major tax overhaul passed by the Republican-controlled U.S. Congress in 2017, tax credits that lower the cost of electric vehicles are available for the first 200,000 such vehicles sold by an automaker rolex cufflinks. The tax credit is then reduced by 50 percent every six months until it phases out..

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BEIJING (Reuters) – Chinese coffee startup Luckin is aiming to open 2,500 new stores this year and overtake Starbucks Corp (SBUX.O) as the largest coffee chain by number of outlets in the world’s second-biggest economy, it said on Thursday gucci cufflinks sale. The firm, which only officially launched its business at the start of last year, has expanded at breakneck speed, propelled by a focus on technology, delivery, and heavy discounting even at the cost of mounting losses. “What we want at the moment is scale and speed,” Luckin’s chief marketing officer, Yang Fei, told reporters on Thursday at a presentation in Beijing..

“There’s no point talking about profit,” he said, adding that subsidies to lure in more users would be an important part of the firm’s strategy for the next few years gucci cufflinks sale. Luckin said it was targeting a total of more than 4,500 stores by the end of 2019, which would take it past Seattle-based Starbucks that has long dominated China’s coffee scene and has over 3,600 stores in the country. Luckin’s caffeine-fuelled expansion is in stark contrast to Starbucks, which opened its first China store in 1999 and has spent two decades reaching its current store count..

The U.S. chain, which spearheaded the growth of a coffee culture in China, started to see competition rise from smaller peers over the last 18 months, though Luckin has stood out as the most aggressive competitor. But Luckin’s rise has not come cheaply gucci cufflinks sale. The firm recorded a loss of 800 million yuan ($116.34 million) last year, which its chief marketing officer said was in line with expectations as it pushed to expand. Luckin, backed by Singapore sovereign wealth fund GIC Pte Ltd and China International Capital Corp Ltd (3908.HK), opened more than 2,000 locations in the last year, gaining a valuation of $2.2 billion after raising $200 million in a funding round last month..

NEW DELHI (Reuters) – Johnson & Johnson’s (JNJ.N) sales in India dipped 3 percent in the year to March 2018, a regulatory filing showed on Thursday, as the U.S gucci cufflinks sale. drugmaker grappled with the country’s stringent medical device pricing policies. The company, currently mired in a controversy surrounding the safety of its baby talcum powder, reported overall sales of 58.28 billion rupees ($829 million) in India for the year, its filing with the country’s Ministry of Corporate Affairs shows..

But its after-tax profit for the period rose 18 percent to $98 million on other income, including foreign exchange gains. J&J’s medical device sales in India have been hit following the federal government’s move in 2017 to cap prices of devices such as orthopedic knee implants to help poor patients gucci cufflinks sale. The restrictions were part of a broader push by India to end what it called “illegal profiteering” by companies. The company has recently been in the news after a Reuters investigation found J&J knew for decades that cancer-causing asbestos lurked in its baby powder..

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China’s smartphone market has dropped sharply this year, with Apple and South Korean rival Samsung Electronics Co Ltd leading the fall, even as some domestic peers have performed more strongly. (Apple, Samsung lead China smartphone drop: Samsung said last month it would cease operations at one of its mobile phone manufacturing plants in China, after seeing its share of the Chinese market drop to 1 percent in the first quarter of 2018 versus 15 percent in mid-2013. Apple on Wednesday lowered its forecast to $84 billion in revenue for its fiscal first quarter ended Dec. 29, below analysts’ estimate of $91.5 billion, according to IBES data from Refinitiv. Apple originally forecast revenue of between $89 billion and $93 billion high end custom cufflinks.

This marked the first time Apple had issued a warning on its revenue guidance ahead of releasing quarterly results since the iPhone was launched in 2007. Apple shares skidded 7.7 percent in after-hours trade, dragging the company’s market value below $700 billion. In the broader market, the S&P 500 futures fell 1.5 percent. In the U.S high end custom cufflinks. government bond market, a typical safe-haven, the yield on the benchmark 10-year, which moves inversely to the bond’s price, sank to an 11-month low. Apple’s move was not entirely a surprise. In November, the Cupertino, California-based company said it would quit disclosing unit sales data for iPhones and other hardware items, leading many analysts to worry that a drop in iPhone sales was coming. And after several component makers in November forecast weaker-than-expected sales, some market watchers called the peak for iPhones in several key markets..

In November, Cook cited slowing growth in emerging markets such as Brazil, India and Russia for lower-than-anticipated sales estimates for the company’s fiscal first quarter. But Cook specifically said he “would not put China in that category” of countries with troubled growth high end custom cufflinks. That all came before the damage to the Chinese economy from trade tensions with the United States and long-simmering structural issues became evident. Apple is now the highest-profile multinational corporation to warn that the economic slowdown in China could hurt its business. Automakers such as Ford Motor Co, Hyundai Motor Co and Nissan Motor Co Ltd all previously said they planned to cut production in the country..

But Apple has held firm on its premium pricing strategy in China despite the risk of a slower economy high end custom cufflinks. “The question for investors will be the extent to which Apple’s aggressive pricing has exacerbated this situation and what this means for the company’s longer-term pricing power within its iPhone franchise,” James Cordwell, an analyst at Atlantic Equities, told Reuters. In the latest fiscal year, ended Sept. 29, unit sales of the iPhone were essentially flat from the prior year, while iPhone revenue expanded 18 percent to $166.7 billion. That growth came entirely from higher prices..

Hal Eddins, chief economist at Apple shareholder Capital Investment Counsel, said Cook’s comments on the impact of the U.S. trade tensions with China “might be a dig at (U.S high end custom cufflinks. President Donald) Trump, but mostly he may be using the trade turmoil as an excuse for some missteps they’ve made over the last year.”. But some investors were heartened by Apple’s plans on using its cash pile. In his letter, Cook said Apple has $130 billion in net cash and that it intends to continue its efforts to reduce that cash balance to net zero, which the company has so far accomplished through dividend increases and share buybacks..

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The Chinese handset maker gained further support last month after the arrest of its chief financial officer in Canada at the request of the United States. At an Apple shop in Beijing’s Wangfujing shopping district on Thursday, fashion worker Zhang Lijun was considering buying an iPhone X or the competing Huawei P20, which runs on Alphabet Inc’s Android operating system unique cufflinks india. “I think the price is too high,” she said, referring to the iPhone. “Huawei has been trending in the past two years, maybe because there’s been more awareness about supporting local brands.”..

SAN FRANCISCO/BENGALURU/SHANGHAI (Reuters) – Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations unique cufflinks india. The news, which comes as a spotlight grows on Beijing’s attempts to revive stalling growth, sent Apple shares tumbling in after-hours trade, hammered Asian suppliers and triggered a broader selloff in global markets..

The revenue drop for the just-ended quarter underscores how an economic slowdown in China has been sharper than many expected, catching companies and leaders in Beijing off balance and forcing some to readjust their plans in the market unique cufflinks india. “While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Apple CEO Tim Cook said in a letter to investors. Apple finds itself in a tricky position in China, a key market for sales and where it manufactures the bulk of the iconic products it sells worldwide, after the high-profile arrest in Canada of the CFO of domestic rival Huawei Technologies Co Ltd [HWT.UL]..

Since the arrest last month, at the request of the United States, there have been sporadic reports of Chinese consumers shying away from Apple products. Even before then, local rivals like Huawei had been gaining market share over Apple. Cook told CNBC that Apple products have not been targeted by the Chinese government, though some consumers may have elected not to buy an iPhone or other Apple devices due to the firm being an American brand unique cufflinks india. “The much larger issue is the slowing of the (Chinese) economy, and then the trade tension that has further pressured it,” Cook said..

Some analysts, however, questioned the impact of Apple’s own actions, such as its unyielding pursuit of high selling prices for its products unique cufflinks india. “Apple sales in China have not been doing well for a few quarters now, part of the reason is that their price points have gone too high – past the $1,000 mark,” said Kiranjeet Kaur, an analyst at market research firm IDC. “(That’s) almost three times as expensive as phones from other vendors that are filling the mass market.”..

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The second-hand trend adds to challenges Apple faces in the world’s biggest smartphone market, where it has long been losing ground to domestic makers of high-end yet lower-priced handsets such as market leader Huawei Technologies Co Ltd [HWT.UL] letter p cufflinks. The first iPhones in China in 2009 brought Apple record profit. But the launch last year of its most expensive handset ever – priced 9,599 yuan ($1,397) – coincided with economic downturn and a slowing smartphone market, while deteriorating Sino-U.S. trade relations stoked support for local rivals..

Poor iPhone sales in China prompted Apple on Wednesday to lower its quarterly revenue forecast for the first time in over a decade, hammering its shares and those of its suppliers letter p cufflinks. Chief Executive Tim Cook blamed the trade war and the economy. “We did not foresee the magnitude of the economic deceleration, particularly in Greater China,” said Cook. Several leading Chinese technology companies also lowered forecasts in the past year, including e-commerce firm Alibaba Group Holding Ltd and search engine provider Baidu Inc, with both citing the impact of the trade war..

Meanwhile consumer confidence has tumbled since the middle of last year, with its impact rippling through the economy, from overall retail numbers to box office receipts and car sales letter p cufflinks. As confidence falls and the economy continues to slow, analysts said the market for used smartphones can only expand. China’s iiMedia Research forecast 144 million users of second-hand smartphones in 2019, up a third versus last year. “The macro environment is just not in Apple’s favor,” said Singapore-based IDC senior research manager Kiranjeet Kaur. “People’s spending power is coming down.”..

In west Beijing’s tech district, one worker surnamed Zhou at a phone refurbishing firm said she had seen a rise in users looking to upgrade old iPhones instead of purchasing new ones. “Quite a few people choose to continue using their older iPhones by changing the battery and updating to iOS 12,” agreed one user on Weibo, referring to Apple’s latest operating system. On Thursday, popular threads on microblog site Weibo largely blamed the price for a drop in sales of what was once a must-have status symbol, with some comments taking on a patriotic bent letter p cufflinks.

“Only fools buy expensive iPhones. Sane people buy top quality, cheap Huawei,” wrote one user in a comment ‘liked’ several hundred times. “Support Chinese brands!”. Support for local smartphone brands gained momentum in the past year as the U.S. imposed import tariffs on Chinese goods letter p cufflinks. Netizens responded by calling for a boycott of Apple – a company widely regarded as being representative of the United States. Apple started 2018 with a market share of 15 percent but that had fallen to roughly 9 percent by July-September, showed data from Counterpoint Research. Huawei, whose high-end phone retails at 70 percent of the price of fifth-ranked Apple, saw its share rise to 23 percent from 20 percent..