China headwinds remain black cloud over Apple, says Wedbush

Wedbush says it’s clear that Apple is navigating one of the more difficult China demand environments seen the last five years as a combination of factors has created a perfect storm for Cupertino in this key market. For the March quarter, China iPhone units will be likely down moderately again year-over-year as this remains a major growth drag on the overall growth story for Apple in the near-term. Huawei share gains, geopolitical tensions, and a softer China economy has created a difficult selling environment for Apple in China again this quarter, the firm adds. However, based on Wedbush’s recent Asia trip in early April data points in the supply chain are supporting that Apple iPhone builds have held steady with initial projections from the beginning of the year. The firm has an Outperform rating on the shares with a price target of $250.