iPhone 18 Pro China Demand Surges 12%, Analysts See Revenue Upside
AAPL sits 36% above its 52-week low of $243.42.
Summary
Counterpoint data shows iPhone 18 Pro sales in China grew 12% year-over-year in the first three days, pushing Apple to the No. 1 spot with 33% market share in Week 38. This comes despite a double-digit decline in China's overall smartphone market since July. Gene Munster adds that Pro model delivery lead times are 15% longer than last year, suggesting consumers are trading up to premium models. Munster believes consensus fiscal 2027 iPhone revenue estimates are 10% too low, partly due to the upcoming $2,100 foldable Duo, which he expects to capture 35% market share in its first year. The Duo begins preorders October 16, providing a near-term catalyst. This follows Apple's strong Q3 results in July, which were overshadowed by a weak Q4 guide; today's data may ease those concerns.
At the time of this announcement, AAPL was trading at $330.37 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.8T. The 52-week trading range was $243.42 to $345.34. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.