So, what have we learned today, campers? First, and foremost, the meme that China is the next bounty of aggregate demand has always been a pipe dream. Whether Apple's problem will lead to the Next Great Recession remains to be seen. It is clear that Apple's failure to continue non-linear growth there will have significant knock-on/side effects. It is clear that Apple, despite braying by the FAANG zealots, really is a one-trick pony. Were it otherwise, it's share wouldn't have tanked.
Apple absorbs quite a bit of parts, since it makes virtually nothing on its own. All those suppliers have been riding on that demand, but now poof!
Buckle up.
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