The manufacturing program will train businesses in AI and new production techniques.
It's the first store in China that Apple has been forced to shut down since opening its flagship store in the country in 2008.
The Apple Manufacturing Academy will be located in downtown Detroit and will be administered by Michigan State University. The academy will offer workshops on manufacturing and artificial intelligence to small and medium-sized businesses, Apple said.
With sales falling, Apple is reportedly closing a store in China for the first time. Apple's store at the Parkland Mall in Dalian City will close Aug. 9, Bloomberg News reported Tuesday (July 29), citing a statement from the company which said a changing landscape at the shopping complex was behind the decision.
Payments from Google and App Store revenue are huge profit generators that could shrink.
Apple's total revenues expected for fiscal Q3 have started to tick up slightly from the beginning of last quarter, according to Visible Alpha consensus. Since late January, expected Q3 iPhone units stayed at 45 million, and FY 2025 jumped back to 227 million. Expectations for the high-margin Services segment remained stable for Q3 at $26.8 billion.
The move speaks to slowing spending by consumers and Apple's continuing struggles in China, its second-largest market.
CNBC's Steve Kovach joins 'Money Movers' to discuss Apple's rebound in China.
Apple Inc (NASDAQ:AAPL, ETR:APC) is expected to deliver a revenue and earnings beat when it reports its fiscal third quarter earnings this week, analysts at Goldman Sachs believe. The analysts maintain a ‘Buy' rating on the iPhone maker but slightly lowered their price target to $251 from $253.
AAPL's third-quarter fiscal 2025 results are likely to reflect steady Services growth and improving iPhone sales in China.
Facing sensitivities on both sides of the Pacific, Apple has reconfigured its China relationships in recent years, Isaac Stone Fish writes in a guest commentary.