The iPhone maker is struggling with the unexpected rise of Huawei Technologies Co.
Aside from stronger competition, Apple faces growing risk from political tensions between Washington and Beijing.
Investors have grown skittish about the iPhone’s prospects in China, Apple’s most important international market as well as production base. The country’s consumer economy is reeling, while US businesses face increasing pressure from Beijing as a technology conflict with the US rages. Huawei’s surprise August debut of a smartphone with an advanced made-in-China 5G processor also tapped a vein of patriotism that’s taken sales away from the iPhone.
Aside from stronger competition, Apple faces growing risk from political tensions between Washington and Beijing. “China is an incredibly important market,” the CEO said during a post-earnings conference call with analysts. “And I’m very optimistic about it.” He didn’t face any direct questions about the situation.
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