DOUBLE WHAMMY FOR APPLE $AAPL $NOK $GS $GOOG $BBRY

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As if Apple needed more trouble, here comes a double whammy.  First, Apple CEO Tim Cook had to apologize to the Chinese consumers.  Second, Apple got a downgrade from a big Wall Street supporter.

A popular new segment on China Central Television highlighted how Apple discriminated against Chinese consumers with its warranties and after-sales service.  The Chinese media called Apple ‘greedy and arrogant.’  Cook is trying to take the sting out, “We always pay tribute to China, Chinese consumer is always the most important thing in our minds.”

It is an old saying, ‘You cannot fight city hall.’  Apple was facing the state run media of the second largest economy in the world; it had no choice but to stand down.  Tim Cook bowed by apologizing to Chinese consumers, “In the last two weeks, we received a lot of feedback on the Apple repair and warranty policies in China. We not only on these views for a deep reflection, together with the relevant departments to carefully study the “three guarantees” provisions, also look at our maintenance policy of communication, and combed through our management practices to the Apple authorized service provider. We are aware that the outside due to a lack of communication during this process think Apple attitude arrogant, don’t care or don’t value customer feedback. For any concerns or misunderstanding to consumers, and we express our sincerest apologies.”

In a second whammy Goldman Sachs downgraded Apple….Read more at Forbes

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