People in China consume a lot of apples on Christmas Eve, known in the country as "Peaceful Night," because the Mandarin word for "apple" sounds so close to ​​"peace." But Apple (AAPL) wasn’t as lucky in the Chinese market during the recent holiday season.

Despite concerns about iPhone demand, analyst remains bullish on Apple's earnings potential. Services growth and margins keep outlook positive.

Phone sales face near-term headwinds from weak consumer sentiment and delayed AI rollout, but expanding gross margins and a robust balance sheet provide strong fundamentals for sustainable growth. Management's record of conservative guidance and overdelivery,

Apple shares edged lower in early Thursday trading, extending a move into correction territory for the world's second-largest tech stock, following a price target downgrade from Goldman Sachs analysts ahead of its December quarter earnings report later next week.

Apple shares are trading at midsummer levels heading into the tech giant's fiscal-first-quarter earnings report later this month.

Apple stock price has pulled back this year as concerns about its innovation, growth, and valuation continued. AAPL crashed to $220, about 15% below its highest level in 2024, bringing its market cap to about $3.