Apple Inc. experienced a mediocre quarter, with a noted decline in performance in China despite a 6% overall revenue increase, signaling competitive challenges.
Apple's revenue from its Services business hit $24.97 billion, showcasing its strength, yet Greater China revenue remained stagnant at just over $15 billion.
With Apple struggling against local competitors like Vivo, Huawei, and Xiaomi in China, investors are closely watching the upcoming iPhone 16 sales.
Apple is currently trading below the S&P 500, an unusual position for the company, which raises questions about its future market performance.
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