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Apple, also a contender for the most valuable company, went down to 701.99 billion dollars in market value. Its stock price hit 52-week low last week after the company issued lower guidance for the fiscal 2019 first quarter.

As Chinese health authorities changed their threshold for diagnosis, Hubei, the hard-hit Central China province where Wuhan is located, reported 14,840 new coronavirus cases and 242 new deaths by midnight Wednesday, bringing the total fatalities in the province to 1,310, the provincial health commission said Thursday.

Apple Inc has slashed the price of some its iPhone models by up to about 800 yuan (8) for its channel partners in China after the United States tech giant lowered its revenue forecast partly due to a weak performance in the country.

Apple's stock is up about 27 percent since October, a gain many analysts attribute to the upcoming build-out of 5G wireless networks. In the last 52 weeks, the stock is up about 108 percent. The stock closed Tuesday at 7.69 a share, up .74, or 2.83 percent.

Armando Branchini, vice-president of Italian luxury trade association Fondazione Altagamma, said that he is preparing for "uncertainties", among Chinese shoppers in 2019.