Alibaba: Apple not to blame for the drop in income, just China has slowed

When Tim cook published an open letter to investors, which announced a slowdown in revenue for the 1st quarter of 2019, the technical and the financial sector was furious. It was the end of Apple and the world as we know it. Apple will inevitably closer to the collapse, was the peak, will soon leave us forever.

But surprise, surprise — in the footsteps of the Cupertino company went Samsung, announcing the first two years the fall in revenue by 29%. While the Nikkei, one of the most important stock indices of Japan, indicates that Samsung became the victim of the slowdown of China’s economy.

And it seems that yesterday’s statement by President of Alibaba Group Michael Evans that China’s slowdown was real and expected, lets look at the fall of the Apple in proper perspective and without hysterical cries of “it’s over!”.

CNBC reports that Alibaba shares fell shortly before the close of the market on Monday. The reason was a report by the Wall Street Journal, which referred to the concerns of the President of the company Michael Evans about slowing economic growth in China.

“China has slowed down,” said Evans during a presentation at the annual conference of the National retail Federation. “For the economy with 13 trillion dollars would be very unusual if it continued to grow at 7% or 8%.”

President of Alibaba explained the pullback in the Chinese economy of “natural causes”, as well as ongoing trade tensions in the United States.

Warning Evans sounded less than two weeks after Apple CEO Tim cook called obstacles in China the main cause of the deficit of the income Apple.

The country has become something of a pain point for some of the largest companies in the world. Alibaba, for example, whose global business in the field of e-Commerce firmly established in China and the United States, continues to suffer from a permanent trade problems.

Source: cnbc

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