Apple's Margins Hit Near Decade-Low In China Due To Discounting, Weaker Yuan, Says Analyst: Competitive Pressure Or Management's Deliberate Plan?

Quick Summary:

China is Apple, Inc.’s (NASDAQ:AAPL) Achilles’ heel from the margin perspective and three businesses drove much of the Services business’ upside,10-Q filing by the tech giant for its fiscal year third quarter showed,

Discounting Dents Margins: Greater China’s operating margin for Apple was at a near decade-low, thanks to iPhone discounting and a weaker yuan, said Morgan Stanley analyst Erik Woodring in a note released Monday.

The analyst noted that Greater China – a collective name for mainland China, Hong Kong, Taiwan, and Macau, fetched Apple’s operating profit of $5.56 billion in the June quarter, a 10% year-over-year decline.

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Article Details

Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChinaHong KongMacauTaiwan

Topics: Benzinga Tech Analyst Color Artificial intelligence AAPL Top Stories US0378331005 Stories That Matter XIACF News Expert Ideas Erik Woodring

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 07:56:07 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 450 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21967868

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