Apple CEO Tim Cook has emphasized just how critical he considers China's importance to his company's growth is by visiting Beijing and meeting with the Vice Premier,Li Keqiang on Wednesday.Mr.Li said that China will strengthen intellectual property rights protection-a key Apple concern-and continue its economic transformation.
To be more open to the outside is a condition for China to transform its economic development,expand domestic demands and conduct technological innovation,Mr.Li continued.
For his part,Tim Cook promised that Apple will strengthen comprehensive cooperation with the Chinese side and conduct business in a law-abiding and honest manner.
Cheap Chinese knock-offs of Apple products have been a long-standing irritant to the tech giant.China,with its vast population still largely unconnected to the Internet,is a major prospect in Apple's future,the company has made clear.One of the company's major outsourcers,FoxConn,assembles countless Apple products in China.
Apple currently operates five retail outlets in China.The potential for expanding that side of the business alone is truly significant.It is estimated that 60% of China's population is unconnected to the cybernetic realm.
Apple is a massively successful company and stock,and it could be more successful,according to David Kirkpatrick,author of "The Facebook Effect."Its price to earnings ratio is not high for the industry,such as Amazon's.If for some reason this extraordinary growth should slow,they might want to make a strategic acquisition such as Twitter or Adobe,Mr.Kirkpatrick speculated.
With the untapped hordes of the upwardly mobile Chinese before them,that doesn't seem too likely in the near future,however.
Apple Computer,Inc.(AAPL)
No comments:
Post a Comment