​Apple Extends Recent Losses After iPhone Sales Warning

Apple's stocks continued its losing streak on Monday after issuing a warning to investors that sales of its iPhones could decline if President-Elect Trump enacts his campaign threat to slap new tariffs on China-imported goods.

The tech giant's stock lost 2.5% in the latest session, bringing its losses since last week's election to around 5%.

An editorial article published in the Chinese government-supported Global Times cautioned of eye-for-eye reprisal should Trump push through his promise to impose 45% tariffs on all products and goods imported from China, adding to the growing concerns of Apple investors.

The op-ed stated threatened that Boeing orders will be substituted by Europe's Airbus, U.S. automobile and iPhones sales in the Chinese market will decline and imports of U.S. soybean and corn imports will be suspended.

The smartphone maker is one of the several major tech stocks such as Amazon, Facebook, and Alphabet that has suffered losses since Tuesday's elections as investor relocate their funds into financial and public works firms that are speculated to highly benefit from deregulation and infrastructure spending under President-elect Trump's administration.

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