Starbucks will be next US brand to warn of China trouble after Apple, Goldman Sachs says
Starbucks will be next US brand to warn of China trouble after Apple, Goldman Sachs says. Apple shares collapsed earlier this month after warning that iPhone sales would fall short because of weakness in the China economy. The firm downgraded the world's largest coffee seller to neutral from buy on Friday, citing "a number of points of caution on China." Goldman noted the stock has doubled the return of the S&P 500 since the firm added Starbucks to its buy list in late 2014 so now is a good time to take some profits.