iPhone sales fail badly in China; Will Apple stock take the hit?

Apple (NASDAQ: AAPL) faced a challenging 2024 in China, with annual iPhone sales plummeting to their lowest levels since 2016.The slide comes after a report from Canalys, a market research firm, which revealed that the tech giant slipped to third place in the fiercely competitive Chinese smartphone market, overtaken by domestic players Vivo and Huawei. The company’s annual shipments fell by 17%, with a steep 25% year-over-year decline in the fourth quarter, despite aggressive promotional efforts. Apple one- ...