Apple's Dark Cloud Might Linger

Winter has come early for Apple, and it might last a while. From a report: The world's largest company by market value has become worth considerably less over the past three months. Apple's share price has slid 11% since the company reported its fiscal third-quarter results on Aug. 3, erasing nearly $400 billion in market value. It is hardly a typical swing given the fact that the company has long used the fall season to launch its biggest products for every year, including new iPhones. This is the first year since 2015 that Apple shares have lost ground between the company's key Worldwide Developers Conference in June and its fiscal fourth-quarter earnings report that typically takes place in late October. That report is expected Thursday afternoon, and it will be the first to reflect sales of the iPhone 15 family that was launched in late September. Investors are worried that Apple's largest business is now facing new and potentially long-term threats. The growing geopolitical rift between the U.S. and China has finally caught Apple in its vortex, spurring reports of Chinese authorities considering a ban on the use of iPhones and other Apple devices by government employees. To make matters worse, Apple's old China-based rival Huawei appears to have made a comeback. The company launched a new smartphone called the Mate 60 Pro in September that reportedly is capable of 5G speeds, even though U.S. sanctions were supposed to deny the company the chips necessary for such an accomplishment.

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