Apple's Cook not worried about Chinese market plunge

Markets all over the world are coping with sympathy pain following the steep decline of China's stock exchange, but Apple (NASDAQ: AAPL) CEO Tim Cook said he's not worried about his company's long-term business prospects in China. 

Seeking to calm worried investors, the head of one of the world's biggest technology companies told a CNBC audience he has confidence in Apple's continued strong sales in the region, particularly its iPhone. 

Apple's shares were down 1.64 percent to $104 in mid-morning trading, but had briefly traded at below $100 per share.

FierceWireless has a full report on Cook's attempt to sooth a roiled U.S. market that has also seen nearly every pay-TV and programmer stock impacted. You can read it here. 

Suggested Articles

Another splashy streaming service debut may be sullied by distribution woes.

Sling TV is an elder statesman of the virtual MVPD community.

YouTube TV’s price hike gives cable operators breathing room to run the next big TV race, which will be fought and won on the TV UX battleground.