Apple Stock Reacts After Tim Cook Email Praises China Sales

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Apple Inc. (AAPL) Shares Plummet Despite CEO Tim Cook Claim China iPhone Sales Are Great Apple Inc. (AAPL) shares fell more than 10 percent Monday morning, despite claims from Apple CEO Tim Cook that iPhone demand and App Store sales remain strong in China. Cook's remarks come in the wake of the Dow Jones Industrial Average plummeting more than 1,000 points last week in part due to the weakening Chinese economy. Update 10:37 a.m. After a steep opening drop, Apple's stock has recovered most of its losses, with its price sitting at $103.87, down 1.73 percent. "As you know, we don't give mid-quarter updates and we rarely comment on moves in Apple stock," Cook wrote to Cramer via email, according to CNBC. "But I know your question is on the minds of many investors.” #AAPL, apple stock, apple stock price