Apple's iPhone sales are starting to stabilize in China, Morgan Stanley says.
The iPhone'smarket share in China is due to cutting prices amid a weakening smartphone market in the country.iPhone demand in China, a key weakness driving down Apple's stock recently, appears to be stabilizing according to new research from Morgan Stanley analyst Katy Huberty. Apple shares gain more than 1% on Thursday.
Apple gained market share over the past two months despite Chinese smartphone shipments hitting a six-year low in February as price cuts to the its latest model, the iPhone XR, provided a lift. The smartphone giant had lost market share in the fourth quarter. Build estimates are running ahead of forecasts for the first quarter, implying that sales forecasts may be conservative.
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