Apple Calls China 'Irreplaceable' as Stock Surges 15% on AI Hype
AAPL•During President Trump's China visit, Apple CEO Tim Cook hailed China as 'irreplaceable' for manufacturing and consumer markets, highlighting industrial integration in Apple's operations. Shares jumped 15% in May on AI optimism as Bank of America lifted its target to $380 and Nvidia CEO Jensen Huang joined Tsinghua University's advisory board.
1. Cook Emphasizes China's Strategic Role
During President Trump's recent trip to China, Apple CEO Tim Cook described China as 'irreplaceable' for both manufacturing and consumer markets. This marks a strategic shift from viewing China solely as a production hub to treating it as an essential component of Apple's global operations and long-term growth.
2. AI Optimism Drives Stock Performance
Apple shares rose 15% in May amid growing investor enthusiasm for its AI initiatives, which spurred Bank of America to boost its price target to $380. The rally was further supported by Nvidia CEO Jensen Huang joining Tsinghua University's advisory board, underscoring the importance of AI collaboration for Apple's future prospects.
