Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'

Following Cook's earnings call yesterday, Apple's stock fell to almost $12 per share, or over 7.5 percent, during aftermarket trading hours.

There will be a bunch of law firms jumping on the bandwagon. They smell blood in the water.

The thing is, the law firm is correct. In the space of two months, Tim Cook has given two completely different versions of events to Apple's investors. In November he basically says the future is bright in China, business grew 16%. This is good news for investors, hence they would be investing more in Apple businesses in China. Now, a month later, Tim Cook say's the complete opposite, that growth in Greater China has been slow and it is something they knew about. If that was the case he should have given a more cautious investor outlook speech back in November. The fact he didn't clearly shows Apple mislead it's investors.

The FTC could also investigate because the very positive speech in November would have increased Apples stock value immensely, meaning a few people would have made a few extra billion. Then a month later to announce to investors that things have not worked out, which would naturally have an affect on Apples stock, critics could argue that it is stock market manipulation, something which is against the law.

Apple would have known way in advance if there was a possibility of China's growth slowing or not, that is why companies such as Apple pay economists the huge sums they do to be able to predict a countries economic growth or slowdown.

So growth is not allowed to slump without being accused of fraud?

Freakin’ lawyers.

Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst

Yes. Thank you. Tim there has been some real deceleration in some of these emerging markets, partly driven by some concerns around some of the rules, administration is contemplating and partly driven by things that are more specific to China, for instance, like some of the regulations around gaming. So can you talk about how you see the trajectory there for the business and what you think of the initiatives of some companies like Netflix and Fortnite trying to bypass the App Store around subscriptions and I have a follow up.

Tim Cook -- Chief Executive Officer

Sure. Great question. Starting with emerging markets. The emerging markets that we are seeing pressure in our markets like Turkey, India, Brazil, Russia. These are markets where currencies have weekend over the recent period, in some cases that resulted in us raising prices and those markets are not growing the way we would like to see. To give you a perspective at some detail, our business at India in Q4 was flat. Obviously, we would like to see that'd be a huge growth. Brazil was down somewhat compared to the previous year, and so I think at least the way that I see this is each one of the emerging markets has a bit of a different story. And I don't see it as an some sort of issue that is common between those for the most part. In relation to China specifically, I would not put China in that category. Our business in China was very strong last quarter. We grew 16%, which we're very happy with. iPhone in particular was very strong. Very strong double-digit growth there. Our other products category was also stronger, in fact a bit stronger than even the company, overall company number....