Tag: apple china

Apple Sees Biggest Rally of the Year After Sales Top Estimates
6May By adminNo Comments
Technology

Apple Sees Biggest Rally of the Year After Sales Top Estimates

[ad_1] Apple Inc. rallied Friday after reporting a rebound in iPhone sales last quarter, helping the world's most valuable company top earnings estimates and weather an industrywide downturn that has battered much of its product lineup.The shares jumped as much as 5.1% to $174.20, the biggest intraday gain since Nov. 30. They're now up 34% in 2023. Overall revenue amounted to $94.8 billion in the fiscal second quarter, Apple said Thursday, exceeding the $92.6 billion analysts predicted. Though the sales fell 2.5% in the period, the company had warned investors to expect a drop of roughly twice that. The results suggest that Apple is beginning to recover from a slump that's plagued both the computer and smartphone industries. It's a particular relief for investors after Qualcomm Inc., a ...
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Apple and Oppo Battle for Top Spot in China Phone Market
28Apr By adminNo Comments
Technology

Apple and Oppo Battle for Top Spot in China Phone Market

[ad_1] Apple Inc. and Oppo were the top smartphone makers in China over the first quarter, in a market that's still shrinking following a year of economic disruptions.Shenzhen-based Oppo had the biggest share of shipments, at 19.6%, according to IDC's latest figures, with Apple's iPhone following close behind. Counterpoint and Canalys estimates, which look at sales and shipments, handed Apple the narrow lead. The US electronics firm clinched the top spot in the final three months of last year following the release of its iPhone 14 and 14 Pro series. The Chinese smartphone market registered double-digit contractions for most of the past year, first with steep drops in sales of Android handsets, such as those made by Oppo, and eventually impacting even Apple's iPhone range. Shipments to m...
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Made-in-India iPhones increase as Apple shifts production from China
10Apr By adminNo Comments
Technology

Made-in-India iPhones increase as Apple shifts production from China

[ad_1] iPhones made in India increased in volume and value last year as Apple moved to shift some of its production away from China to diversify its supply chain, South China Morning Post reported.In 2022, the shipment volumes of iPhones manufactured in India increased by 65 per cent year on year. In addition, the value of iPhones rose by 162 per cent, South China Morning Post reported citing a report published by market research firm Counterpoint last week. Last year, Apple accounted for 25 per cent of the value of India's total smartphone shipments, which shows a rise from 12 per cent in 2021, the SCMP reported citing the Counterpoint. China manufactures up to 85 per cent of iPhones around the world, Xinmei Shen said in the South China Morning Post report. However, Beijing faces the r...
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Apple enjoys ‘symbiotic’ relationship with China, Tim Cook says
26Mar By adminNo Comments
Technology

Apple enjoys ‘symbiotic’ relationship with China, Tim Cook says

[ad_1] Apple enjoys a "symbiotic" relationship with China, CEO Tim Cook said on Saturday, as the iPhone giant looks to move production out of the country.Cook, who is in China to attend the high-profile China Development Forum, said "Apple and China grew together," during an interview on the role of technology in education. "This has been a symbiotic kind of relationship that I think we both enjoyed," he said at the state-run event attended by top government officials and corporate leaders. Cook's visit comes as Apple, the world's biggest company by market value, is trying to move production out of China.Last year, Apple sales were hit by curtailed production at factories as a result of China's zero-Covid policy.US export controls on high-tech components are also threatening the company...
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Warren Buffett’s TSMC Selloff Backs Apple Over Its Supplier
17Feb By adminNo Comments
Technology

Warren Buffett’s TSMC Selloff Backs Apple Over Its Supplier

[ad_1] Just months after disclosing a huge stake in Taiwan Semiconductor Manufacturing Co., Warren Buffett's Berkshire Hathaway Inc. reported dumping almost all of it. In doing so, the world's most famous investor may have left more than $1 billion in profit on the table while revealing even he may not be immune to macroeconomic jitters. Berkshire held 60.06 million American depositary receipts in the world's biggest chip manufacturer at the end of September, worth $4.12 billion at the time, according to an exchange filing. By the end of the year, those holdings fell to 8.3 million. Berkshire hasn't disclosed the prices it paid or received for these shares, but a quick look at TSMC's stock price chart shows that the timing was unfortunate: Shares climbed 29% to hit a 10-month high e...
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Apple’s iPhone dominated China last quarter despite disruptions
28Jan By adminNo Comments
Technology

Apple’s iPhone dominated China last quarter despite disruptions

[ad_1] Apple Inc. won its biggest quarterly market share in China, outrunning Covid disruptions and a global economic slowdown. Apple Inc. won its biggest quarterly market share in China, outrunning Covid disruptions and a global economic slowdown. The Cupertino, California company accounted for nearly 24% of China's smartphone sales in the last three months of 2022, according to Counterpoint Research data. It topped all manufacturers in the quarter, becoming the second-biggest seller in the country on an annualized basis for the first time, the researchers said. The iPhone maker suffered shipment declines from the previous year, but they were smaller than those of domestic rivals like Vivo, Oppo and Xiaomi Corp. The global smartphone market has been hurting from an economic slow...
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Apple Shares Hit Lowest Since June 2021 on iPhone Supply Concerns
29Dec By adminNo Comments
Technology

Apple Shares Hit Lowest Since June 2021 on iPhone Supply Concerns

[ad_1] Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period. Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period.The stock fell 1.4% in its third straight negative session. While Apple remains a modest outperformer for 2022, with a 27% decline that is narrower than the 34% drop of the Nasdaq 100 Index, it has lagged the tech-heavy gauge over the past month. Recent weakness has come as production halts in a major iPhone plant in China contribute to a supply shortfall of Apple's flagship product. Earlier on Tuesday, JPMorgan w...
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Apple supplier Foxconn’s founder Terry Gou pushed China to ease COVID curbs – WSJ
10Dec By adminNo Comments
Technology

Apple supplier Foxconn’s founder Terry Gou pushed China to ease COVID curbs – WSJ

[ad_1] Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy. Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy in the global supply chain, the Wall Street Journal reported. The appeal, sent by Gou in a letter more than a month ago, played a major role in convincing China's leadership to quickly reopen the economy and move away from its zero-tolerance COVID-19 policy, the report said on Thursday, citing people familiar with the matter. Gou's office said in a statement that it "sternly denies" the facts in the report. Foxconn, which is the biggest assembler...
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Shock move! Apple plans to shift production out of China
4Dec By adminNo Comments
Technology

Shock move! Apple plans to shift production out of China

[ad_1] According to the Wall Street Journal, the people involved in the discussions said that Apple is also looking to reduce the dependence on Taiwanese assemblers. Apple, in recent weeks, is accelerating its plans to shift some of its production outside China and telling suppliers to plan more for assembling the product elsewhere in Asia, particularly India and Vietnam. According to the Wall Street Journal, the people involved in the discussions said that Apple is also looking to reduce the dependence on Taiwanese assemblers led by the Foxconn Technology Group. The recent turmoil at China's Zhengzhou 'iPhone City' plant propels Apple to shift its production. In China, Zhengzhou has as many as 300,000 workers working at a factory run by Foxconn to make iPhones and other Apple pr...
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John Stauffer, Top Apple Executive Who Pushed for Shift to Cloud, Leaves for Roblox
1Dec By adminNo Comments
Technology

John Stauffer, Top Apple Executive Who Pushed for Shift to Cloud, Leaves for Roblox

[ad_1] Apple's top executive is leaving the iPhone maker to join Roblox Corp., adding to a string of recent high-profile departures. Apple Inc.'s top executive in charge of media-related software technology is leaving the iPhone maker to join Roblox Corp., adding to a string of recent high-profile departures. John Stauffer is exiting Apple after about 24 years to become a vice president of engineering at the online gaming platform. He was one of a handful of company vice presidents to report directly to software engineering chief Craig Federighi. The departure adds to upheaval at Apple, with a series of vice presidents leaving in recent months. The company's head of procurement was ousted in September, while its chief privacy officer, head of industrial design, chief information ...
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