Apple (AAPL) Finally Returns to Growth in China's Smartphone Market
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Apple's growth this quarter has been linked to strategic price adjustments for the iPhone 16 series, which included higher trade-in values and discounts offered by Chinese e-commerce platforms. These moves helped Apple regain momentum after months of declining market share. Nevertheless, it is worth noting that competition in China's smartphone market remains intense. Indeed, Huawei has been rolling out new models aggressively and expanding HarmonyOS 5, which is its self-developed operating system that competes with Google's (GOOGL) Android and Apple's iOS.
At the same time, Apple is facing geopolitical challenges, such as President Trump's push for the company to manufacture iPhones in the United States. However, this seems unlikely to happen since it could push the price of iPhones to over $3,000, according to analysts. As a result, as Apple prepares to announce its earnings results on July 31, investors will be closely watching for any updates to its strategy in China.
Is Apple a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 13 Buys, 11 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $229.11 per share implies 6.8% upside potential.
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