Tim Cook’s Email to Jim Cramer Saves Apple $80bn

Following a sell-off on global stock exchanges which was triggered by a slide in Chinese equities Monday, Apple CEO Tim Cook, assured investors through an email to CNBC host Jim Cramer, saying that consumer demand for Apple products in China remained strong.

“I get updates on our performance in China every day, including this morning, and I can tell you that we have continued to experience strong growth for our business in China through July and August,” CEO Tim Cook affirmed in the email.

By the end of the day, Apple had regained most of what it had lost in market capitalization earlier in the trading session.

Apple shares closed only 2.47 percent lower at $103.15

 

 

Photo by insider_monkey