China Is Cutting Back on iPhones. Louis Vuitton Handbags Could Be Next
- Apple’s outlook fans the fears of a consumer slowdown
- Prada shares tumble, joining declines in LVMH and Tiffany
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After Apple Inc.’s shock profit warning, investors were quick to make the connection: if Chinese consumers are cutting back on iPhones, Louis Vuitton handbags could be next.