Apple, Tesla Earnings Reports Show An Increasing Reliance On China As A Market

The increased reliance on the Chinese market by western companies makes them vulnerable to upheavals — as can be illustrated by the recent Chinese government attack on the multinational clothing retailer H & M Hennes & Mauritz AB (HMRZF) for issuing a statement about its decision to stop sourcing cotton from the Xinjiang region after reports of forced labor in the area.

H&M faced the wrath of the Communist Party of China organs such as the People’s Liberation Army and the Communist Youth League in wake of the controversy.

Price Action: On Wednesday, Apple shares rose 2.36% in the after-hours trading to $136.73, after closing 0.6% lower at $133.58 in the regular session. On the same day, Tesla shares closed nearly 1.5% lower at $694.10 in the regular session.

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