Apple CEO Tim Cook recently made a comment reassuring all its shareholders about the company's mainly positive business status in China. Following Cook's comment, Apple stocks saw a dramatic rebound following the 13 percent drop amounting to about $75 billion in losses.
Cook assure Apple investors that there is a growing demand for iPhone's in China. However, the recent economic hurdle faced by the Chinese stock market have cause many Apple investors to worry about the possible meltdown of the world's second biggest economy, according to Reuters.
When the Chinese stock market closed to a nine percent recorded loss on Aug. 24, Cook made a rare act of issuing a comment about the health of Apple's business in the middle of a financial quarter.
In an email sent to CNBC's Jim Cramer, Cook wrote, "I get updates on our performance in China every day, including this morning, and I can tell you that we have continued to experience strong growth for our business in China through July and August."
Cook added that iPhone demands in China continue to grow and in the last two weeks the App Store in the region recorded its best performance for the whole year.
When trading in Wall Street opened on Aug. 24, Apple shares plummet to a year-low 13 percent. However, within a span of less than two hours after Cook issued his message of reassurance to investors, Apple stocks went up by 2.25 percent adding more than $85 billion into the company's market capitalization.
The recent fall and rise of Apple stocks simply shows how important the company is in Wall Street trading. On the other hand, traders in Wall Street remains cautious about the possible risk Apple might be facing due to the continued downfall of China's economy.