Apple Analysts Downplay China’s iPhone Ruling
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Apple Inc. analysts broadly shrugged off a report that the company was banned from selling some older models of its iPhones in China following a lawsuit, saying the issue was a headline risk -- not a factor that fundamentally changes the company’s prospects in the country.
The stock initially fell as much as 3.1 percent, but recovered to briefly trade higher on the day and avoid extending the recent 30 percent decline in shares seen since hitting a record in early October.