1. I reiterate a 'Sell' rating for Apple stock due to concerns about growth in China; 2. Huawei's launch of the Mate XT Ultimate trifold smartphone could impact Apple's market share and iPad sales in China; 3. Apple's revenue from Greater China declined by 3%, with local brands gaining market share in the high-end segment.

➀ Huawei's global smartphone shipments grew by 49% in Q2 2024, reaching 11.6 million units. ➁ The Pura70 series, Huawei's first 7nm chip-equipped flagship, targets the high-end market overseas. ➂ HiSilicon's chip production issues have been resolved, enabling broader market supply and expansion into new sectors like PC and smart home.

1. India's Competition Commission has ruled against Apple's App Store practices, similar to EU's Digital Markets Act. 2. The ruling could lead to alternative app marketplaces and third-party payment methods on iPhones in India. 3. Apple's growing market in India faces regulatory challenges as it diversifies its manufacturing base.