Wed. Jul 17th, 2024

A turning point for Apple: the release of the iPhone 16 smartphone boosts sales in China

Natasha Kumar By Natasha Kumar Jul9,2024

Tipping point for Apple: iPhone 16 smartphone launch boosts sales in China

Apple's revenue from smartphone sales in China for the first quarter of this year has caused some controversy among various sources, but the company's management insisted that sales in the local market were up. Analysts from Wedbush predict that the fall debut of the iPhone 16 will lead to a significant increase in demand for Apple smartphones in China.

According to their forecasts, the second quarter of this year will be the last period when the supply of iPhones in China will decrease. In the third quarter, when the new iPhone 16 line is expected to debut, demand for Apple smartphones should return to growth. This applies not only to the Chinese market, but also to other regions of the world. Wedbush raised its price forecast for Apple shares to $275, compared to the current price of around $227.

Investors' optimism is fueled by the results of last month's WWDC 2024 developer conference. Apple has demonstrated its plans to integrate artificial intelligence technologies into its software ecosystem. If the iPhone 16 is announced with an emphasis on artificial intelligence features, it could create significant demand for new devices worldwide.

To date, the number of devices running iOS is about 2.2 billion units, of which approximately 1.5 billion are iPhones. Wedbush officials believe that in the next six to twelve months, developers will release hundreds of new applications for this ecosystem that will use the capabilities of artificial intelligence. This, in turn, will fuel interest in new Apple smartphones.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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