Apple's China demand woes are 'overblown': Strategist [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
A critical component of the earnings picture is consumer demand, as Wall Street seeks to gauge consumer strength. Apple, in particular, has experienced a bumpy road in China , where it saw iPhone sales drop significantly within the first couple of months of the year. Kace Capital Advisors Managing Partner Kenny Polcari joins The Morning Brief to discuss the market's reaction to earnings season as Big Tech continues to report its earnings. Polcari explains his feelings with Apple in China: "The concerns over China are overblown. Apple earns $120 billion every three months. What are we talking about here? Look what Apple did in April, I think it was off the highs in March. It was down about 17% and now it's rallied back, SC Bernstein just upgraded it...The iPhone story might run into a little bit of a problem, because they're expensive now, not everyone's going to continue to buy $1500 iPhones." For more expert insight and the latest market action, click here to watch this full ep
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