Wedbush's Dan Ives believes Apple Inc. (NASDAQ:AAPL) and Tesla Inc. (NASDAQ:TSLA) are the "only two companies" able to "thread the needle" between the U.S. and China.
What Happened: Ives underscored his belief that U.S. tech companies are ahead of their Chinese counterparts when it comes to artificial intelligence (AI,) in an interview with Bloomberg Surveillance.
“There’s only two companies able to thread the needle in terms of China-US. It’s Cook in Cupertino, and Musk and Tesla," Ives said in the backdrop of Cook and Musk's recent China visits.
"This is a huge win for Musk."
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This comes amid Apple's recent struggles in China, while Tesla registered its first earnings decline in four years.
Both the tech titans have been facing trouble in China – while Apple's iPhone sales in China fell 19% year-on-year in the March 2024 quarter, Tesla reported a 9% fall ...