CNBC's Steve Kovach joins 'Money Movers' with the latest news on how Apple is walking a China tightrope.

Apple's shipments in China have increased by 0.6% compared to the previous year, according to new data from IDC. This modest growth comes as CEO Tim Cook visits China to promote the new iPhone 17 lineup and reinforce Apple's presence in its most important market outside the United States. Government subsidies in China have contributed to increased sales of lower-end iPhones, while Cook has also indicated plans for new investments in the country.

At the same time, Apple is moving some of its manufacturing operations out of China to countries like Vietnam and India, aiming to mitigate the impact of tariffs and geopolitical tensions. The company has also announced new products featuring its latest M5 chip and is building a new facility in Houston, Texas, for AI server production. These strategic shifts reflect Apple's efforts to balance growth in China with the need to diversify its global supply chain.

Apple China shipments grow 0.6%

Welcome back. Apple's starting to see a turnaround in China according to new data from IDC shipments taking up less than a percent from last year as CEO Tim Cook visits that all important market this week. Steve Kovac has more in today's tech check. Steve Leslie building on some momentum we saw in the last earnings report. But look Tim Cook is now this week on one of his regular tours of China. That's Apple's most important market outside of the United States of course. And sure he got that custom made labooboo. Look how cute that thing is. Which sent shares of Pop Mart soaring yesterday and kind of broke the Internet for a bit there. But he's also there to play politics and promote Apple's new iPhone 17 lineup. All as Apple's China's business is showing some early signs of turning around thanks in part to government subsidies that effectively discount some of the lower end iPhones. And we're already seeing evidence that's driving sales for the base model of the iPhone 17 in China. So look you have Cook here playing it both ways. As state media reported Cook promised new investments in China though didn't get many specifics out of that report. He's also working to move more manufacturing outside of China to avoid the worst of President Trump's tariffs. Over the last several hours we've seen more evidence of cooks moving away from China. For example Reuters reporting Apple is lobbying to change a tax law to get a break on manufacturing equipment. And Bloomberg reporting that upcoming gadgets like a security camera and tablet for controlling smart appliances will be made in Vietnam. And that all tracks with the vision Cook laid out back in May when the terror threat was at its worst for Apple. So over time Apple plans to move as much of its production for U.S. bound iPhones to India. And it is working. For example Jeffrey's analysts this week estimated only about 9 million iPhones in the U.S. will come from China this year. Other products like U.S. bound Max watches and air pods. They are already being made in Vietnam before being shipped to the U.S. And speaking of those other devices Apple announcing today new MacBooks and new iPad Pro and Vision Pro. They are the same products as before but they have a new chip. The Apple M5 more powerful of course than previous ones guys. Now Steve it feels like Apple has been relatively unscathed compared to some of its other big tech peers. I'm thinking in the chip space as it pertains to kind of being in the middle of these geopolitical tensions. Do you expect that to continue. Do you feel like Tim Cook is kind of playing things the way that he should. Is he able to really kind of go down that line in a way that appeases both sides. Yeah. And on the chip side we can. Let's talk about what's going on there. So that M5 chip today is a great example. Leslie that is made for consumer products not made what NVIDIA does for training artificial intelligence what AMD wants to do. This is just for personal products. However there is an A.I. angle here because part of the geopolitical dynamic that we're seeing here is Apple is actually moving some production from overseas to a new facility being built in Houston Texas where they're going to be building some of those A.I. servers that are powered by those M series chips locally here. That's what powers Apple intelligence that private cloud network. So a little bit of a different take from what you might be seeing from opening eye and NVIDIA and all these A.I. mega deals that we're doing. Not as much money sloshing around by far. Yeah. Busy week for Apple whether that's the hardware or any Q's comments about Apple TV this weekend services. No more. Appreciate that. Yeah.

President Trump confirmed that he has authorised the CIA to go into Venezuela and conduct covert operations.

Washington

Trump says he authorised covert CIA operations in Venezuela

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Tel Aviv-Yafo

Hamas executes Palestinians accused of collaborating with Israel

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Chicago

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Ukraine Invasion

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Caracas

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Antananarivo

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Sharm El-Sheikh

Middle East Conflict

Trump, world leaders sign Gaza peace plan and discuss next steps

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Donald Trump to co-host chair Gaza peace summit in Egypt

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Paris

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Beijing

Global Tariffs

Beijing blames U.S. for trade tensions, defends rare earth curbs

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Chaman

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Kyiv

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Taipei City

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