Jim Cramer Expresses Concern Over Apple's Performance In China: 'Enough, It's Terrible There'
Portfolio Pulse from Benzinga Neuro
Jim Cramer expressed concerns over Apple's performance in China, highlighting a revenue decline in the market. Despite Apple Inc. (NASDAQ:AAPL) reporting an overall increase in its first-quarter earnings, with record Services and iPhone revenue, the company saw a 12.9% sales decline in China. This downturn in the Chinese market, a critical region for Apple, led to a slide in the stock's after-hours trading.
February 02, 2024 | 5:25 am
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Apple Inc. reported a significant revenue decline of 12.9% in China, despite an overall increase in first-quarter earnings. This has led to concerns among investors and a negative impact on the stock in after-hours trading.
The revenue decline in China is significant for Apple due to the market's importance for both demand and supply. Despite overall positive earnings, the specific downturn in China has alarmed investors, likely leading to a short-term negative impact on AAPL's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100