They criticize his tactics but echo USA complaints about Chinese industrial policy and market barriers.
Global stocks are jumping Friday as investors welcomed news of trade talks between the USA and China next week and the US government reported a big increase in hiring in December.
The decision to hold this week's talks at a deputy minister level reflects the need to work out technical details before higher-level officials make "hard political decisions on major issues", said Tu Xinquan, director of the China Institute for World Trade Organization Studies at the University of International Business and Economics in Beijing.
Meanwhile the Labor Department said USA employers added 312,000 jobs last month, a far stronger result than experts expected.
Cook attributed much of the "shortfall" in the outlook to struggles in China that he pinned on the economy and "rising trade tensions" with the U.S. Shares of US retailers that sell Apple products were also weak on the news. In December, he said that investors should avoid US stocks and corporate debt and that best bets are high-quality, low-duration, low-volatility bond funds. In a March 2018 interview to Recode's Kara Swisher and MSNBC's Chris Hayes, Cook said that that numerous Apple product components are made in the United States, even though Apple products are assembled in China.
And Federal Reserve Chairman Jerome Powell said the Fed will be flexible in its plan to hike interest rates. The S&P 500 index plunged almost 2.5 percent and the tech-heavy Nasdaq lost more than three percent.
The Dow soared 747 points, or 3.3% - its fourth-biggest point increase of all time. The Dow added 775 points, or 3.4 per cent, to 23,461. Earlier it gained as much as 832. Growth is expected by the government to have eased to around 6.5 percent in 2018, down from 6.9 percent in 2017.
In a memo issued to investors earlier this week, Apple CEO Tim Cook lamented how "multiple factors", including lower than expected iPhone sales performance, explain why his company has reduced its revenue guidance for the Holiday quarter ending December 30, 2018, down to $84 billion from its early-November projection of between $89 and $93 billion, according to a CNBC report. Technology companies took their biggest losses in seven years.
Technology, healthcare and industrial firms and banks made strong gains.
While its momentum was more muted, the S&P 500 also added 79 points to hit 2,527 and in Canada, Toronto's TSX popped by 210 points to hit 14,423.
The dispute has rattled companies and financial markets that worry it will drag on global economic growth that is showing signs of declining. The S&P 500 Index declined 62.14 points, or 2.5%, to 2447.89. Smaller companies have fallen further than larger ones in the last few months as investors got nervous about how the USA economy will perform in 2019 and 2020. "I hope that it does, and I'm actually optimistic, but we're going to focus deeply on the things we can control", Cook said. "China is the biggest beneficiary of Apple - not us".
Bond prices also changed course and moved sharply lower. In the U.S. government bond market, a typical safe-haven, the yield on the benchmark 10- year, which moves inversely to the bond's price, sank to an 11-month low.
In Asia, Hong Kong's Hang Seng jumped 2.2%.
Memory chips come from Japan's Toshiba, sensors from Germany's Bosch and display modules from Samsung in South Korea.