Apple gains ahead of market open on rising demand in China

A flurry of discount offers on the shelves of major Chinese retail chains led to a jump in demand for iPhone phones in April. The latest data from the Chinese Academy of Information and Communication Technology showed that smartphone sales in China rose 52%, erasing some of the slump seen earlier in the year. The low price base (due to lower demand), combined with the June 18 Chinese shopping festival, is laying the groundwork for an extension of better sales momentum in China in the coming month. 

Analysts at Bloomberg Intelligence say data from a recent survey indicates a willingness to move to higher-end phones, including the iPhone brand, due to the long wait for Huawei's premium models. 

Apple (AAPL.US) shares are currently gaining 1.85% ahead of the Wall Street open. Source: xStation 5