https://finance.yahoo.com/news/apple-i-phone-sales-in-china-could-be-cut-by-50-thanks-to-trumps-trade-war-115735359.html

“We are proactively slashing our iPhone unit sales as we believe the US/China trade situation will result in a slowdown of Apple iPhone demand in China as China residents shift their purchasing preference to China national brands. Our independent due diligence shows a less favorable brand image desire for iPhone which has very recently deteriorated,” Suva wrote in a new note to clients.

Clearly, Apple’s standing in China amidst the trade war is weighing on the minds of investors... and the stock price. Apple’s stock is down 14% in the past month alone, by far the worst-performance among the FAANG cohort. The Dow Jones Industrial Average and S&P 500 are only down about 4% each over the same timespan.