While tech giant Apple (NASDAQ:AAPL) is gradually lowering its production in China, the company’s CEO, Tim Cook, recently commented at the China Development Forum that the relationship between Apple and China has been “symbiotic” and the two “grew together.”
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The development is interesting amid Apple’s rising production levels in India and its supplier Pegatron planning to open a second production facility in the country.
According to reports, Mr. Cook also paid a visit to an Apple store in Beijing on his first visit to the country since the COVID-19 pandemic.
Overall, the Street has a $170.18 consensus price target on AAPL implying a 6.2% potential upside in the stock. That’s on top of a 9.4% climb made by the stock over the past month alone.
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