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Technology Stocks : Apple Inc.

AAPL 258.19

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3:59 PM EST

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To: Doren who wrote (190884)	5/28/2016 5:03:00 PM
From: MGV	of 213182

Dave B. answered what FX is: Foreign (currency) eXchange. What I mean is the PRC is on a course that began last early August to devalue the renminbi. Chinese consumers pay for iPhones in yuan/renminbi. Apple reports in $US. If the Chinese currency is devalued 2015 to 2016 by 20%, units could be up 10% and sales on a constant currency basis would be up 10% but after currency translation, Apple would report a 10% decline in sales in China. It shouldn't matter because currencies go up and down over time but, it does. The street sees and reports down 10% and constant currency is merely a footnote.

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