Sales of Apple (AAPL.US) iPhones in China fell 6% year-on-year in July and August, which was a deeper decline than usual before the launch of a new model. The entire Chinese smartphone market shrank by 2% during this period despite government subsidies to support consumption. Apple had only a 12% share and ranked sixth, losing out to Vivo (19%), Xiaomi, Oppo, and Huawei (16% each).
In the previous quarter, however, the company improved its sales in China, and Tim Cook highlighted the record user base and growing demand for other Apple products as well. The upcoming iPhone 17, considered the biggest upgrade in years, is expected to be an impetus for refreshing the device replacement cycle, and Xiaomi has accelerated the launch of its own flagship to compete with Apple.
The new iPhone 17 series is experiencing record delivery delays, which is rare and indicates exceptionally strong global demand. Bank of America data shows that the average wait time for the iPhone 17 Pro is 18 days, for the Pro Max as long as 25 days, and surprisingly, even the basic iPhone 17 has a record 19 days (compared to 10 days for last year's model). Particularly high interest is observed in China, where the waiting time for the Pro version reaches 25 days, and reservations have exceeded 5 million units. The success of the standard model is due to significant improvements – Apple has added, among other things, a 120 Hz screen, a 48 MP dual camera, an A19 chip, longer battery life, and double the base memory, while maintaining the previous price of $799.
Apple shares are down 0.1% ahead of the Wall Street opening on Chinese sales data, although investors are unlikely to pay too much attention to it as it is somewhat outdated and does not include data on iPhone 17 orders. The company's shares rose yesterday to their highest levels since March this year, thus sustaining the medium-term upward trend.
Source xStation
Alibaba sell-off extends amid White House national security concerns📌
US Earnings Season Summary 🗽What the Latest FactSet Data Shows
US Open: US100 initiates rebound attempt 🗽Micron shares near ATH📈
Micron Surges on Record DRAM Pricing
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
