Apple stock slips as new report shows iPhone continues to underperform in China

Published Jan 08, 2024 05:37AM ET © Reuters. Apple (AAPL) stock slips as new report shows iPhone continues to underperform in China AAPL -0.40% Add to/Remove from Watchlist According to Jefferies’ industry checks, Apple's (AAPL) iPhone experienced a year-over-year decline of over 30% recently. Jefferies estimates that the iPhone in China exited 2023 with approximately a 3% decline and a 0.4 percentage point lower market share. "iPhone’s lower market share YoY in China is a negative surprise, and we believe the cannibalization is coming from not just HW, but also Xiaomi and “others” (eg, Samsung, ZTE/Nubia etc.)," analysts said in…