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From Kuo's: "Apple Likely to Face Fiercer Challenges in 2025, Requiring Caution Against Potential Downside Risks from Earlier Overly Optimistic Market Sentiment" posted Friday on his Medium account.

Read More Ming-Chi Kuo: 2025 is going to suck for Apple

Prime Minister Narendra Modi’s government has spent billions of dollars in incentives to lure companies like Apple and Samsung Electronics Co. to set up manufacturing plants in the South Asian country.

Read More Modi sweetens the deal for Apple's Indian suppliers

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