China's iPhone Shipments Skyrocket 52 Percent in April

According to the data from the China Academy of Information and Communications Technology (CAICT) released on Tuesday, May 28, the sales of Apple (AAPL) iPhone in China suddenly surged 52% in April YoY, offering a fresh look at Apple stock prospects.

In the reported month, the total number of shipments in the domestic market stood at 24.07 million units, representing an annual increase of 28.8%. Out of the total figure, 20.58 million units were of Chinese origin, while 3.49 million units were from foreign brands. In the January to April period, 91.48 million units were sold, with the number jumping 12.3% annually.

The most important event for Apple over the past quarter was the release of its Q3 2024 results, which saw adjusted EPS rise by just 1 cent despite a 4.3% YoY sales decline. From a revenue perspective, the quarter was quite challenging, as only services saw strong annual growth. Mac selling also saw modest YoY growth, but it wasn't enough to offset declines in other areas of the business. Apple's commitment to innovation, including its upcoming WWDC2024 event and the launch of the powerful iPad Pro, should be positive for the stock. The demand for Apple's products are set to rebound as monetary policies across developed countries start easing.