Apple Inc has constantly been showing signs of growth in China which is one of the biggest success if the company given that the Chinese market is already a strong competitor in the smart phone industry and to compete in the same market as them not been a piece of cake. However, the iphone makers have made it possible to prove as a successful company in the market where the growth of the company just doesn’t seem to stop. In a recent update that was released recently, it was reported that the tech giant has been enjoying successful sales in the Chinese market. The popularity of the company has also seen a rise from the past couple of financial quarters.
According to the Apple news that has been released recently, it says that among three prominent companies who are currently ruling over the Chinese market, Apple is on the 2nd ranking. The Californian company has consistently been receiving more demands for the new Apple iPhone 6 and iPhone 6 plus which has evidently made it one of the most hyped up company in China.
Keeping in mind the recent date, various analysts have reissued ratings on the company and increased price targets. Analysts at Jefferies group have upgraded their price target on the company’s shares after the news got popular about the firm’s success in the Asian country.
Analysts at Stifel financial firm has released a report on the company’s stock performance in a research note submitted on Thursday, 19th March 2015 and they also studied the data available from different Chinese telecom companies through which they came to the conclusion that the tech company’s success was due to the wireless growth in the 4G industry that was backing up the success of the company. This success of the company has resulted in the Asian country becoming the 2nd biggest market for the company’s smart phones.
Jefferies Group did not fall behind and were quickly observed to have increased the price target on the company’s stock. From a previous $124, the Apple share price was taken higher to a value of $130. However, the firm did not change the previous ratings that it had given to the company and maintained the ‘hold’ rating.
The firm also discussed how the demand for the new iPhone has been increasing in China and this is also expected to increase the yearly earnings of the company. Apple Inc is expected to report earnings by the end of the quarter with an increase of around 10% which will determine how much the tech giant has grown in the country.