Apple CEO Tim Cook was recently in China where he met Minister Wang Wentao and opened the company's newest flagship store in Shanghai last week.
Apple is operating in a tough environment in its key market, China, as it faces stiff competition from local Chinese smartphone makers and declining iPhone sales. Apple needs to overcome its China challenges including a tough macro environment and competition from Huawei before the iPhone 16 release and "it all starts with reaffirming Apple's presence in China," Wedbush said.
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