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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Apple : Short queues in China as Apple's newest iPhone 12 hits stores

10/23/2020 | 06:21am EST
A staff member holds a thermometer as people wait at an Apple Store before Apple's 5G new iPhone 12 go on sale, as the coronavirus disease (COVID-19) outbreak continues in Shanghai

SHANGHAI (Reuters) - Two of Apple's latest iPhone 12 models went on sale in China on Friday, after early pre-order data showed strong consumer interest in the 5G-enabled device in the firm's second-largest market.

The short queues outside Apple stores in the business hub of Shanghai struck a contrast with the crowds that flocked to past launch events, as most ordering has now shifted online.

"I feel great being the first customer to get the new iPhone," said Yan Bingqing, 30, who arrived before the store opened, and was in a line of about 20 people. "I've been waiting a long time."

A new green shade for the iPhone 12 was also a top trending topic on Chinese app Weibo on Friday, prompting positive reactions.

Apple's announcement last week initially drew mixed reviews in China, but analysts expect a surge in orders this year, as loyal iPhone owners finally buy new handsets compatible with an upgraded 5G network infrastructure.

Chinese e-commerce retailer JD.com saw pre-orders for all four models of the iPhone 12 hit 1.6 million on the first day of the announcement.

"From the bottom of my heart, it's a little bit late for Apple to release the 5G iPhone," said Zhu Lin, another Apple fan who had queued. "I was expecting it last year."

Apple and Huawei Technologies Co Ltd are the only top phone makers racking up shipment growth in China this year, with an annual rise of 35% for Apple in the second quarter, research firm Canalys says.

Apple's store launch follows that of Huawei's Mate 40 flagship device on Thursday, which some in China had said they would wait for before deciding on the iPhone 12.

(Reporting by Josh Horwitz; Editing by Karishma Singh and Clarence Fernandez)

By Josh Horwitz


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.11% 122.94 Delayed Quote.67.66%
WEIBO CORPORATION 1.35% 42.67 Delayed Quote.-7.94%
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Financials (USD)
Sales 2021 315 B - -
Net income 2021 66 259 M - -
Net cash 2021 80 862 M - -
P/E ratio 2021 31,1x
Yield 2021 0,69%
Capitalization 2 090 B 2 090 B -
EV / Sales 2021 6,38x
EV / Sales 2022 6,01x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 127,20 $
Last Close Price 122,94 $
Spread / Highest target 22,0%
Spread / Average Target 3,46%
Spread / Lowest Target -39,0%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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