Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Luckin's opportunity in China is "one of the world's greatest retail growth opportunities," according to KeyBanc Capital Markets.Investingread more
Apple's iPhone sales in China will not return to their peak levels anytime soon, according to one Wall Street analyst.
UBS predicts Apple's iPhone sales growth in China will be roughly flat this fiscal year because consumers are waiting longer to upgrade to new phones and there is rising local competition.
"We think it's doubtful China returns to its 2015 peak as local brands have caught up and upgrade cycles are lengthening," analyst Steven Milunovich wrote in a note to clients Monday. "Although industry experts see aspirational buying patterns, the market as a whole has begun to slow due to saturation and lengthening upgrade cycles. Our experts agreed that upgrade cycles started to lengthen in 2017 and will continue to do so in 2018."
The analyst said Apple's China sales peaked in 2015, when the country represented 25 percent of iPhone shipments versus 19 percent today.
"We expect a flattish market, give or take a few points of growth depending on the overall market and product cycle," he wrote. "There will be continued pressure from local competitors that have become adept at quickly replicating features."
Despite the company's growth issues in China, the analyst reiterated his buy rating and $190 price target for Apple shares. He cited the company's price-to-earnings ratio of 16 times for this fiscal year, which compares favorably with other technology hardware stocks.