CEO Tim Cook to Jim Cramer: Apple is seeing strong growth in China through July, August

Apple CEO Tim Cook this morning emailed CNBC’s Jim Cramer about the company’s performance in China:

As you know, we don’t give mid-quarter updates and we rarely comment on moves in Apple stock. But I know your question is on the minds of many investors.

I get updates on our performance in China every day, including this morning, and I can tell you that we have continued to experience strong growth for our business in China through July and August. Growth in iPhone activations has actually accelerated over the past few weeks, and we have had the best performance of the year for the App Store in China during the last 2 weeks.

Obviously I can’t predict the future, but our performance so far this quarter is reassuring. Additionally, I continue to believe that China represents an unprecedented opportunity over the long term as LTE penetration is very low and most importantly the growth of the middle class over the next several years will be huge.

https://twitter.com/carlquintanilla/status/635799629947404288/photo/1

MacDailyNews Take: This effort to drag down Apple, whether due to panic, shorting, malice, confusion, idiocy, or whatever is a godsend those those looking for inexpensive AAPL shares.

32 Comments

    1. It is also worth noting that Apple did very well during the 2007-2009 economic downturn in the U.S. Unit sales of iPhones and Macs continued to grown, and Apple continued to increase investments in R&D and its facilities and workforce.

      The same may happen in China, depending on how severe their economic crisis becomes and how it affects consumer behavior.

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    1. Hey Down boting troll boy, suck it and choke.
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  1. Kudos to TC…..he went out of his way to inform AAPL investors. China is going great as I have always believed and TC has confirmed this….
    Remember that share repurchases are on-going and TC providing mid-quarter info will make his stock more expensive to repurchase.

  2. So, during the turmoil of the China stock market crash Apple sales actually increased? Wow, I wonder how sales will be when their markets finally stabilize…

  3. Obviously you didn’t get the memo—-apppppppppppppple is doooooooooomed……nobody will buy another Apple product ever again….BOGO rules……….oH wAiT!!!!

    1. You really think the SEC is going to awake from its coma to single out Tim Cook for illegal communications? Only if Obama’s administration is still playing Google’s lap dog.

      1. It’s possible that pressure from the likes of GOOG will make the SEC act, although I admit Obama loves TC, so maybe nothing happens.

        That said, what TC did was absolutely unethical. The purpose of the SEC is to try to protect investors from insider malfeasance, which this clearly was.

        And FWIW, I forecast that TC’s tenure at the top of Apple will not end well.

        1. Uh huh, Marketwatch, the same bastion of journalistic integrity that publishes every hare-brained rumour and bare faced manipulation of AAPL or anything else. This was a de facto public email by TC. You need to spend less time visiting click-whore sites, and try thinking for yourself a little.

          1. Foris – You don’t have a clue what you are writing about. Such a “de facto public email” is absolutely against SEC regulations because the recipient was Cramer who is the fund manager for his investment fund, and who sells subscriptions to his newsletter thestreet.com. It’s OK for Tim Cook to say such things in a public speech, or to be quoted in a newspaper saying such things, but it is not OK for him to send a private email to one market participant which gives that participant the opportunity to front run information.

      1. I assume minutes passed between the receipt by Cramer’s staff and the public disclosure of the email. That’s an eternity in today’s world, and completely against the rules without a prior SEC filing. That’s exactly the kind of communication that the SEC is supposed to be policing.

        Never mind. I get it – if a liberal does it when the president is a liberal, it’s OK. But Martha Stewart (a liberal) goes to jail when it’s one of those evil Republicans who is president.

        It’s all smoke and mirrors folks. The stock market is totally propped up by the Federal Reserve, including Apple. It won’t last – in the end, central banks can’t control a “market” forever – they will eventually lose control and price and demand will reflect reality, and not Janet Yellen’s wishes.

        http://mises.ca/posts/articles/if-something-cant-go-on-forever-it-wont/

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