How Will Apple (AAPL) Stock React to Tim Cook’s Upcoming China Visit?
NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report are down by 0.15% to $93.10 in pre-market trading on Friday, as CEO Tim Cook is planning to travel to Beijing later this month to meet with top government officials, according to a source cited by Reuters.
The visit comes as the tech giant is facing some obstacles in the country, which is its most important market abroad. While Cook has traveled to China frequently since becoming CEO five years ago, this visit comes at a critical time.
In recent weeks, the Cupertino, CA-based company has faced several problems, including waning iPhone sales, the loss of an iPhone trademark case in China and the suspension of some of its entertainment services online, Reuters noted.
During the Beijing visit, Cook plans to meet senior government and Communist Party officials, including those in charge of propaganda, the source added.
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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins.
The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AAPL
