On the day Apple Inc. became the first U.S. company to close with a market capitalization above $700 billion, Chief Executive Tim Cook credited its success to its ability to sell pricey products to Chinese consumers and ignore commonly accepted beliefs about big companies.
Mr. Cook said Tuesday that Apple has grown rapidly in China by disregarding conventional wisdom that Chinese consumers were too price-sensitive for Apple’s high-end products
“It’s a bunch of bull. It’s not true,” he said at the Goldman Sachs Technology and Internet conference in San Francisco.
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