logologologologo
  • Home
  • Business
  • Markets
  • Exchange
  • Investment
  • Personal Finance

Apple Is Seeing a ‘Demand Rebound’ for iPhones in China

Demand for Apple iPhones has been coming back in China, says one Wedbush analyst.

Wedbush analyst Dan Ives increased his price target on Apple AAPL +0.84% stock (ticker: AAPL) to $190 from $180 and maintained his Outperform rating on the stock. The longtime Apple bull wrote in a research note Wednesday that demand has rebounded in China following a weak December. Beijing rolled back the country’s strict zero-Covid 19 lockdowns lockdown policy early that month.

“Our Asia iPhone supply chain checks this week have been incrementally more positive with a modest uptick in demand coming out of China for Apple with a clear demand rebound happening in this key region post December despite the uncertain macro backdrop,” Ives wrote.

iPhone sales are vital for Apple. Smartphone revenue made up $65.8 billion of its total December quarter sales of $117.2 billion. Overall sales from China made up $23.9 billion in revenue last quarter, behind Europe and the U.S. among five regions for which Apple discloses data.

But both iPhone and China sales were down from the prior year as the company faced significant production challenges in China.

“Because of these constraints, we had significantly less iPhone 14 Pro and iPhone 14 Pro Max supply than we planned, causing ship times to extend far beyond what we had anticipated,” Chief Executive Tim Cook said in the company’s latest earnings call in February. The iPhone 14 Pro and Pro Max are the newest, most expensive models of the smartphone.

Looking ahead, Ives is confident that demand is strong and says that there are “no major unit cuts from suppliers in Asia around iPhone production yet, which is a good sign that shows a steady demand curve on the flagship iPhone 14 Pro in March/June.”

Ives also expects to see continued market share gains for the company as people upgrade their phones to newer models. He estimates approximately 25% of current iPhone users haven’t upgraded their device in four or more years.

Shares of Apple were up 0.8% Wednesday to $152.81. The stock has gained 17% this year.

Source: finance.yahoo.com

Related posts

March 29, 2023

Memory chipmaker Micron expects revenue drop, expects AI to boost sales in 2025


Read more

Categories

  • Business
  • Car
  • Content
  • Crypto
  • Economy
  • Exchange
  • Inflation
  • Investment
  • Markets
  • Personal Finance
  • Technology
  • Uncategorized

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021

Recent Posts

  • Memory chipmaker Micron expects revenue drop, expects AI to boost sales in 2025
  • Apple launches ‘Apple Pay Later’ buy-now, pay-later program
  • US regulator goes after Binance in newest crypto clash
  • A bank crisis brings an old favorite back for traders: Morning Brief
  • SVB hearing, consumer confidence, quarter end: What to know this week

About Us

The Alpha Cut a Vida Street LLC Company
1404 N. Ronald Reagan Blvd.
Suite 1120
Longwood, FL 32750

Link

(843) 256-4375
https://thealphacut.com

Why Us

Terms & Privacy
Policy & Procedure
Disclaimer

This material is not an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only.
Any performance results discussed herein represent past performance, not a guarantee of future performance, and are not indicative of any specific investment. Due to the timing of information presented, investment performance may be adjusted after the publication of this report. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, equal any corresponding indicated historical performance levels or be suitable for your portfolio.
All data in this communication is provided for informational purposes only and is not intended for trading or investing purposes. We expressly disclaim the accuracy, adequacy, or completeness of any data and content provided by financial exchanges, individual issuers, their respective affiliates and business partners and shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining our prior written consent.
We make no express or implied warranties or representations and shall have no liability whatsoever with respect to any data contained herein. The data may not be further redistributed or used to create indices or other financial products. This report and the views expressed herein are subject to change at any time based upon market or other conditions (such as domestic and global economic trends) and are current as of the date of publication hereof. The information, analysis, and opinions expressed herein are for general information only and are not intended to provide specific advice or recommendations for any individual or entity.
We emphasize that Investment in the securities of smaller companies can involve greater risk than is generally associated with investment in larger, more established companies, and can result in significant capital losses that may have a detrimental effect on the value of your investments.
Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.
Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investment. The general information contained in this publication should not be acted upon without obtaining specific legal, tax and investment advice from a licensed professional.
Please remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth.As with any structuring of a portfolio of investments, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.
The information, analysis and opinions expressed herein are for general, impersonal information only and are not intended to provide specific advice or recommendations for any individual entity.

copyright © Alpha Cut 2021. All Right Reserved
The Alpha Cut a Vida Street LLC Company