Apple's worst-case scenario in China doesn't look that bad, according to a Morgan Stanley analyst — and that's unlikely to occur in the first place.
Apple Inc.’s worst-case scenario in China doesn’t look that bad, according to a Morgan Stanley analyst — and that’s unlikely to occur in the first place.
Plus, Chinese technology company Huawei recently came out with a new phone that looks more competitive in the market. Apple is thought to have won market share at Huawei’s expense in recent years as Huawei was weighed down by U.S. sanctions that limited its ability to obtain technology for its phones.The stock was up 0.9% in morning action after shedding 6.4% across the prior two trading days in a selloff that Morgan Stanley’s Erik Woodring deemed “overdone.
“We believe that’s an overextrapolation by the market, as Huawei’s 5G smartphone shipments will be greatly limited by supply constraints , and iPhone curbs by the Chinese government aren’t necessarily new, reportedly having begun as far back as 2020.”
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