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Zero Hedge 08/11/2020 15:22
Apple Shares Slump After Evercore Warns Of "Surprisingly Negative" Chinese Smartphone Data. Tue, 08/11/2020 - 15:22. Apple shares were down 100bps in late afternoon trading, bouncing between the $445-$447 range. Shares were then pressured lower, down 175bps to $442 handle, at around 14:10ET, or around the same time headlines from investment bank Evercore hit the wires, warning about new smartphone data from China is "surprisingly negative.". *CHINA SMARTPHONE DATA SHOWS BIG DECLINE IN QTR START: EVERCORE. *CHINA SMARTPHONE DATA IS `SIGNIFICANT DETERIORATION': EVERCORE. Evercore is suggesting Chinese consumption in the back half of the year is slumping, shreds apart the narrative of a "V-shaped" recovery. China accounted for 15% of Apple's total

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