Team Xi Jinping Willing To Provide Apple 'More Opportunities' As Battle With Homegrown Huawei Heats Up
Portfolio Pulse from Ananya Gairola
Apple Inc. (NASDAQ:AAPL) has seen a 4.5% decline in iPhone 15 sales in China in the first 17 days compared to its predecessor. This follows China's decision to widen restrictions on the use of iPhones by state employees. However, China's vice premier, Ding Duexiang, has expressed willingness to provide Apple with more opportunities as competition with Huawei Technologies intensifies. Apple CEO Tim Cook recently made a surprise visit to Beijing, where he was welcomed to participate in advancing China's digital economy.
October 21, 2023 | 2:16 am
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Apple's iPhone 15 sales in China have declined, but the company may receive more opportunities in the country amid competition with Huawei.
While the decline in iPhone 15 sales in China is a negative sign, the expressed willingness of China's vice premier to provide Apple with more opportunities could offset this. The impact on Apple's stock is uncertain, hence the neutral score.
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