It has been one blow after another for Apple Inc. in recent months. Labor unrest and production stop Foxconn Technology Group The massive iPhone factory in central China is expected to cause Apple to miss out on sales of millions of devices this holiday season, the company’s most important time of the year.
Most economists predict a global recession will hit next year, reducing consumer appetite for the expensive devices Apple sells. As central banks rapidly raise interest rates to reduce inflation, technology stocks have particularly fallen out of favor. Apple shares this year have lost about $800 billion, or about a quarter of its market value.