Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Apple CEO Tim Cook speaks at the Economic Summit during the China Development Forum in Beijing / Chinatopix via AP

Apple CEO Tim Cook said Tuesday that he expects Apple's business in China, which has been slumping for the past year, to improve in the current quarter. However, he said the company is unlikely to return to year-over-year growth this quarter.

"We continue to believe there (are) enormous opportunities there," Cook said. Cook noted that 7 of the top 10 most visited Apple stores are in Greater China.

Last quarter's results in China were helped by strong Mac and iPhone 7 Plus sales, but hurt by weaker sales of older iPhones and particular weakness in Hong Kong. In addition, China's currency was devalued by 5 percent, Cook said, adding: "that's not an insignificant headwind."

Why it matters: China remains one of the biggest areas for Apple to grow, but steep competition and an uncertain economy make results there more subject to fluctuations.

Go deeper

Updated 14 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 31 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.