Apple reported $9.55 billion in revenue from China in its third-quarter earnings report, though many investors expressed worry about how newly imposed tariffs could affect business in the country, according to CNBC.
Apple CEO Tim Cook said tariffs are not the most effective way to address the complicated trade relationship between the U.S. and China and could have unintended effects for consumers. However, he said, his outlook for the future remains bright.
"There is an inescapable mutuality between the U.S. and China that each country can only prosper if the other does. And, of course, the world needs both the U.S. and China to do well for the world to do well.I am optimistic the countries get through this, and we are hoping that calm heads prevail," said Mr. Cook.
Apple's third-quarter revenue in China is a 27 percent drop from the $13.02 billion it reported this time last year.