Apple (NASDAQ:AAPL) CEO Tim Cook said Saturday that he is “extremely bullish” about the global economy based on the amount of innovation underway, and urged China to continue to “open up” due to the complaints of US and others that it is shutting foreign firms out of Key high-tech industries.
In a speech at an economic forum in Beijing, Mr. Cook said Apple is less concerned with the short-term economic outlook because the tech giant makes investments looking ahead years and decades.
“In the long term, I’m extremely bullish. I think the Key to the economy, unlocking its potential has always been innovation, and when I travel around the world, I’ve never seen innovation at a more feverish pace than I do today, so I’m extremely optimistic,” Mr. Cook told participants at the China Development Forum, a gathering of business leaders in Beijing.
His remarks come as China and the US prepare to meet again to resolve their trade dispute, which has roiled global markets, and as Apple is expected to announce that it is launching a video service.
The iPhone has been Apple’s marquee product and main money maker, but sales are starting to decline. The company is pushing digital subscriptions as it searches for new growth.
Apple is 1 of many American companies now dealing with increasing Chinese consumer anxiety. China is a major market for Apple and other Smartphone makers, accounting for 33% of the industry’s global handset shipments.
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