AAPL
Apple's iPhone shipments in China surge 20% in Q1, data shows
Article Summary
HOLD- Apple Inc. (NASDAQ: AAPL) saw iPhone shipments surge 20% in China in the first quarter, for the strongest growth among major vendors, despite overall decline as rising prices of memory chips boosted costs.
- Overall smartphone shipments dropped 4% in the period from January to March, hit by supply chain disruptions and soaring chip prices, but China's two largest smartphone vendors Huawei and Apple reported growth of 2% and 20% respectively.
- Huawei retained the top spot followed by Apple with 19%, while Xiaomi slipped to sixth place with a plunge of 35% in shipments due to a high base effect.
- Analysts expect more headwinds for the market in the second quarter as Chinese brands look to raise prices further.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 10.1% | 25% | 50.0 ptsMeets Minimum (10.1%) - Passes screener |
| EPS Growth Next 5Y ? | 11.1% | 25% | 35.0 ptsBelow Screener (11.1%) - Modest outlook |
| Target Price Upside ? | 14.0% | 20% | 50.0 ptsMeets Minimum (14.0%) - Target: $300.40 vs Current: $263.40 |
| Gross Margin % ? | 47.3% | 15% | 60.0 ptsSolid (47.3%) - Decent margins |
| Drawdown from 52-Wk High ? | -8.7% | 15% | 20.0 ptsBarely a Dip (-8.7%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About AAPL
- Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide.
- The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple Vision Pro, Apple TV, Apple Watch, Beats products, and HomePod, as well as Apple branded and third-party accessories.
- It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts, as well as advertising services include third-party licensing arrangements and its own advertising platforms.
- In addition, the company offers various subscription-based services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV, which offers exclusive original content and live sports; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property.
- The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets.
- It distributes third-party applications for its products through the App Store.
- The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers and resellers.
- The company was formerly known as Apple Computer, Inc. and changed its name to Apple Inc. in January 2007.
- Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.