Apple's China exposure makes it most vulnerable in US-China trade war

A hot potato: Global financial markets posted three consecutive days of losses as the trade war between the U.S. and the rest of the world escalated. The tech sector has been hit particularly hard by President Trump's tariffs, with all major U.S. tech companies losing a significant portion of their market value. Apple has seen the hardest hit, shedding nearly 20 percent of its market cap in one of the steepest declines in the company's history before a mild recovery on Tuesday. While most major American tech companies have much to lose in a global trade war, Apple – the world's largest by market cap – is the most vulnerable of the so-called "Magnificent Seven" due to its heavy reliance on China. Most of Apple's products, including its best-selling iPhone models, are manufactured in the communist nation, meaning the proposed 50 percent tariffs would affect it more severely than most. Related: Consumers race to Apple stores as tariff fears spark iPhone rush Apple also has manufacturin ... Read full article.