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Artificial intelligence major Megvii Technology Ltd, backed by Alibaba Group, has filed for an initial public offering, making it the first Chinese mainland AI company to go public in Hong Kong.
Apple's share price fell almost 8 percent from Aug 1 to the market close on Aug 5. In the same period, Facebook fell 6.5 percent, Alphabet (Google's holding company) 5.5 percent, Amazon 5.7 percent, Microsoft 4.2 percent, and Netflix 4.2 percent.
Apple has said that it plans to appeal the decision. The injunction will go into effect in 30 days, unless Apple can secure a stay on it while seeking the appeal. The injunction can also be extended for one or more “one-year periods” if the judge deems such action necessary.
As China's first free-trade zone, Shenzhen started importing wines in 1980, and has since dominated the country's premium-wine importing business.
Apple said revenue from the iPhone declined 15 percent from the year-ago period. In China, Apple reported revenue of .1 billion, down sharply from .9 billion last year.
