Apple's share price dropped from $260 to $228 primarily due to declining iPhone sales in China, which is crucial given its status as the largest smartphone market.
Recent data shows that while the overall smartphone market in China grew by 4% in 2024, Apple's performance was troubling, with a 25% decline in units sold compared to the previous year.
Apple's decision to withdraw its AI news summary feature highlights the challenges the company faced due to flaws in the product, which affected its first entry into the competitive AI market.
Despite Apple maintaining the top spot in Q4 smartphone sales in China with 13.1 million units, it was unable to match the growth of local competitors like Vivo and Huawei.
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