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.

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Ousted former U.S. attorney for SDNY to testify before House Judiciary Committee

Berman in October 2019 in New York City. Photo: Johannes Eisele/AFP via Getty Images

Geoffrey Berman, the former U.S. attorney for the Southern District of New York, is scheduled to testify to the House Judiciary Committee next week on the circumstances of his forced resignation, Politico reports, citing a congressional aide.

Why it matters: As the top federal prosecutor in Manhattan, Berman oversaw high-profile cases that worried and angered President Trump and his inner circle, including an investigation into his personal lawyer Rudy Giuliani. His removal has added to allegations by Democrats that Attorney General Bill Barr has politicized the Justice Department under President Trump.

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Texas governor mandates face masks in public spaces

Photo: Mario Tama/Getty Images

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