“It was no April Fool, Monday, as the start of April lived up to the month’s reputation as the cruelest, at least for tech stocks, with losses from the likes of Apple Inc. and Intel Corp. leading the sector downward despite gains by eBay Inc. and BlackBerry Inc.,” Rex Crum reports for MarketWatch.
“Apple shares fell more than 3% to close at $428.91, after CEO Tim Cook issued a signed public apology on the company’s Chinese website for customer service issues over the company’s products in that country,” Crum reports. “The move followed reports last week that Chinese regulators were preparing to crack down on the company following complaints that its customer service policies weren’t on par with other markets.”
Crum reports, “As part of the move on Monday, Apple said it has ‘improved’ its repair policy for the iPhone 4 and 4S models in China, and plans to increase the ‘supervision and training’ of authorized service providers.”
Read more in the full article here.
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