Apple Inc. said customers in China can now use the country’s most popular payment card for transactions on the App Store, as the iPhone maker seeks to woo users in the world’s largest smartphone market.
Apple plunged 2.9 percent to send technology stocks in the Standard & Poor’s 500 Index to the biggest plunge since April. Biogen Idec Inc. and TripAdvisor Inc. lost at least 3.3 percent as investors sold some of the bull market’s biggest winners.
Apple Inc.’s forecast for the slowest holiday sales growth in a half decade reflects how iPhones and iPads aren’t providing the growth surges they once did as competition accelerates in the saturated mobile market.
Apple Inc. fell the most in almost five months after unveiling two iPhones that were criticized by analysts and reviewers as lacking enough new features or a low enough price to attract a broad range of first-time users.