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.