🍎Apple's China business showed a decline in shipment numbers and strong mix of iPhone 15 Pro and Pro Max.
📈The competitive market dynamics and growth potential in China present a positive driver for Apple's future.
💰Apple's valuation into the high 20 multiple range is justified given the breadth of its offerings.
📱The potential of generative AI on Apple devices could lead to a meaningful upgrade in the iPhone cycle.
🔮Apple's ability to embed AI processing neural engines in their SOC is attractive and sets them apart.