Apple shares move higher despite losing ground in China

CNBC's MacKenzie Sigalos reports that Apple shares are near record highs even as China sales fell 9% during a key shopping period, with Huawei gaining share. The report analyzes Apple's pricing strategy, AI feature positioning, and a lengthening replacement cycle, while noting that Apple is still outperforming rivals globally with rising volumes. - Apple shares near record highs despite a 9% China sales decline in a key shopping period. - Huawei widened its lead over Apple in the Chinese smartphone market. - Apple's strategy of holding prices steady may be losing effectiveness as rivals raise prices. - AI features remain a nice-to-have, not a sales driver; Chinese iPhone users have similar apps from Alibaba, ByteDance, and DeepSeek. - Chinese consumers now keep smartphones for roughly 50 months, and the iPhone 17 already captured pent-up demand. - Counterpoint expects China's overall smartphone market to decline by double digits this year. - Apple's global volumes are rising in low single digits, outperforming many rivals that are falling sharply.