Tim Cook Remains Optimistic About Greater China Market Despite 6.5% Yearly Decline: 'Confident in the Long-Term'
Portfolio Pulse from Ananya Gairola
Apple Inc. (NASDAQ:AAPL) reported a 6.5% YoY sales decline in Greater China for Q3, but CEO Tim Cook remains optimistic about long-term prospects. Despite the decline, the iPhone install base and upgraders in Mainland China set records. Apple is also making strategic moves to integrate AI functions into its devices sold in China.
August 02, 2024 | 3:52 am
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Apple reported a 6.5% YoY sales decline in Greater China for Q3, but CEO Tim Cook remains optimistic about long-term prospects. The iPhone install base and upgraders in Mainland China set records, and Apple is making strategic moves to integrate AI functions into its devices sold in China.
Despite a 6.5% YoY sales decline in Greater China, Apple's Q3 earnings outperformed expectations. CEO Tim Cook's optimism about long-term prospects, record iPhone install base, and strategic moves to integrate AI functions into devices sold in China are positive indicators for the stock.
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