Apple (AAPL) shares fell 0.5% Friday after the tech giant reported 澳洲幸运5官方开奖结果体彩网:declining revenue for the fourಌth꧋ straight quarter, in part due to lower sales in China from the same period a year ago. However, some analysts say worr🐠ies surrounding sales in China, a key market for Apple,♛ may be overblown. 

Apple said its fiscal fourth-quarter revenue dropped 0.7% from a year ago to $89.5 billion, with sales in China down 2.5% to $15.1 billion, accounting for about 17% of the company’s overall revenue.

The drop in Apple's China sales comes amid a 澳洲幸运5官方开奖结果体彩网:slow economic recovery there and 澳洲幸运5官方开奖结果体彩网:increased competition from other brands in the tech market, as well a slump in global demand for personal computers. However, Apple did report record revenue from iPhones in mainland China, with the hit to revenue largely due to lackluster sales of other products including MacBooks and iPads.

“The ‘iPhone China demise narrative’ was a great fictional story by the bears, which is far from the reality as underlying mainland China growth remains strong and a key asset for the core iPhone franchise,” Wedbush analysts said in a note following the earnings report reiterating the firm’s "outperform" rating. 

Jefferies analysts said that “some fears in China seem overblown” given that the quarter returned “a record for the quarter in several countries including mainland China,” though the firm noted that “China share loss to high-end competitors” could present an issue.

Bank of America (BofA) analysts said prior to fourth-quarter earnings that “China has been a 20%+ contributor to Apple’s revenues and while competitive risks are increasing, we also note the sale of wearables (Watch and AirPods) has created a stickier ecosystem in China, which is helping to overcome some of the challenges associated with a traditionally less sticky ecosystem.”

BoFA analysts noted after Apple released its earnings that while “iPhones made up the top four selling phones in urban China,” they “remain cautious around potential share loss to Huawei,” a Chinese phone company, especially in the context of “weaker” revenues for Macs and iPads in China.