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Apple Stops Trading After Massive Loss

Apple

Episode 1554

Blaming a weakened economy in China for lackluster sales of the iPhone, Apple's CEO Tim Cook sought to explain their huge drop in stock value this week, and as such, Apple has stopped trading until they figure out what's going on. That's not a good thing, but it's pretty clear that the company hasn't really had a good sales experience over the last quarter or two, and Cook expects the next quarter results to be no better. Leo says it was only last August that Apple became the first company to be worth a trillion dollars.