It's not easy being a bull on Apple right now, given a comprehensively disappointing earnings report this week. With the company missing revenue and earnings expectations, the bears on Apple understandably are having a field day exclaiming that they've been right the whole time; Apple is doomed.
To be sure, there was little to be enthusiastic about after Apple's latest earnings release and conference call. Importantly, Apple's biggest growth market, China, was a surprising disappointment, which further underscored the reality that China's economy is struggling. Like many multinational companies, Apple's growth trajectory is significantly impacted by the state of Chinese consumption; Apple is not immune to macro conditions impacting the Chinese consumer.