Apple CEO Tim Cook says China demand largely recovered, retail hit record high in Q2

Apple saw demand in China recover largely from the coronavirus collapse earlier this year, Apple CEO Tim Cook said on Thursday.

The Apple chief said the company was “doing well” in China in early January before the COVID-19 blockages occurred in the second half of the month. Demand dropped in February during lockdowns and the closure of Apple stores across the country, Cook said.

As the lockdown eased around the second half of February, Apple began to reopen its stores in China on a staggered basis. From there, Cook said Apple saw demand improve in March, and even more so in April.

While foot traffic to Apple retail outlets has returned to February levels, Cook added that it has not returned to pre-pandemic levels. More and more customers are turning to online retail in the country and around the world, a natural result of quarantines and fears of a pandemic. However, Cook expects traffic to physical stores to return to normal.

In February, Apple said it would likely not meet previous financial revenue forecasts due to production and demand problems in China.

At another point in the call, Cook said supply constraints were largely resolved in late March. CFO Luca Maestri also said that Apple’s global supply chain is “up and running again.”

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