Apple’s Drop – level 2
In August, Apple became the first American company to be worth $1 trillion. Now, however, Apple said that it will make less money than before, and this is a shock to business people.
Apple’s boss said that this is because people are buying fewer iPhones in China. After a lot of growth, China’s economy is slowing down. People say that 2018 will be the year of the slowest growth in China in the last 30 years.
The Chinese are more careful with their money, so people buy less. For example, car companies and coffee companies also have fewer sales than before.
Other experts say that Apple products are expensive. Apple’s boss also said that people do not upgrade their iPhones as often as they did in the past.
You can watch the original video in the Level 3 section.
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