- Dec 5, 2015
- Reaction score
- Political Leaning
More and more companies are confirming that President Trump’s trade war is slowing down the global economy.
On Wednesday, Apple (AAPL) shocked markets when it said revenue in its holiday quarter would miss expectations.
This news sent Apple shares down as much as 7% after hours and confirmed the market’s biggest fear about the global economy — that trade is slowing down businesses around the globe.
“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 published after the market close on Wednesday.
“In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad.”
The numbers do not lie. It will be a brutal day for the stock market on Thursday. Trump, this should be your wake up call. The "glitch" in December will continue on in 2019 if you don't wake up.