Foxconn denies plant strike report; Apple shares down with many U.S. stocks

“U.S. stocks declined on Monday after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season,” Chuck Mikolajczak reports for Reuters. “The World Bank reduced its growth forecasts for the East Asia and Pacific region and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast.”

Mikolajczak reports, “According to Thomson Reuters data through Friday, 91 companies in the Standard & Poor’s 500 have issued negative outlooks versus 21 positive preannouncements, for a ratio of 4.3, the weakest showing since the third quarter of 2001.”

“Apple Inc shares shed 1 percent to $646.19 and was the biggest drag on both the S&P 500 and Nasdaq 100 indexes after China Labor Watch, a rights advocate group, said that a Foxconn plant in China that makes Apple’s iPhone was crippled by a strike,” Mikolajczak reports. “Foxconn, a Taiwanese company, denied the report.”

Read more in the full article here.


  1. So, all those that sold who were victims of this FUD have been played. Should we be shocked?

    Wouldn’t it be great if the talking heads confirmed crap before they spread it around? Or maybe a large government agency that was there to protect the small investors? We could give them a catchy name like the SEC! That could work!

    1. Are you a victim of something that the S EC should have protected you from? It’s the stock market, live with it. AAPL is not a victim of a manipulation. Nor are you. Hey attention. What! Expect the stock market to always go up? Do you expect some sort of a guarantee? Where have you been all of your life? It’s tough out there in the real world. Next time you’re up try not to be a buy and hold investor. Take profits. Because this is not the first or the last time that AAPL will go down. Have some dry powder for days like these.

    2. You do see that the article states “many US stocks down” don’t you? The whole world is not against you and AAPL. It’s just a bad day in the market. It’s not a conspiracy or some evil plot against AAPL.

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