When Apple announced an overall luscious second-quarter financial performance, industry analysts still found cause for bitterness. Sales of iPhones in China missed a sales forecast for 51 million units as the country’s June-July stock market slump hurt consumer sentiment. Two cheaper Android-based local brands, Xiaomi and Huawei, pushed the iconic $827 product out of the country’s No. 1 ranking that it had taken at the start of the year. Apple share prices slipped in July after the earnings news, which included global quarterly revenue of $49.6 billion and a $10.7 billion net profit – both gains compared to the same three months a year ago.

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