Apple Is Looking For New Ways To Grow

Over the past three months, Apple Inc. (NASDAQ: AAPL) shares have lost more than 20 percent as investors worried about the company's sagging iPhone sales. The firm was a market darling in 2015, delivering huge returns to shareholders, but this year the company's shine has faded significantly following a lackluster fourth quarter earnings report. However, now that The Fruit's shares are trading below $100, many investors are considering whether or not to trust CEO Tim Cook's confidence in the company's future and buy in.Betting On ChinaAlthough the firm's iPhone sales disappointed in the final quarter of 2015, Cook said he was optimistic about Apple's prospects in China, one of the firm's largest markets. While China is going through a period of economic uncertainty at the moment, Cook stressed that the country's upper class, Apple's primary target, has the savings to support continually rising spending habits even with some market volatility. During Apple's first fiscal quarter of 2016, Chinese sales were impressive. iPhone sales in Greater China rose to their highest levels ever and App Store sales also reached a record high. However, Cook admitted that January sales in China came in a bit softer, likely a consequence of the nation's market gyrations. While China could be a huge catalyst for growth for Apple, it's unlikely to make any significant difference to the firm's bottom line in the near-term. Instead, investors should be watching for how Chinese sales improve over the next year for a better picture of how that market will shape up in 2017.IndiaAnother opportunity for growth at Apple can be found in India, where the economy is expected to grow by 7.3 percent in 2016. Betting that luxury-priced smartphones can thrive in a country plagued by wide-spread poverty may seem counterintuitive, but the country represents the world's fastest growing smartphone market, making it an important target for Apple. At the moment Apple makes up just 2 percent of the nation's smartphone market, so there is a great deal of room for growth.