Apple Inc. has experienced a significant decline in the Chinese smartphone market, falling from the top position to fifth place. This shift occurred despite having one of its best iPhone launch quarters in China. The company's iPhone sales dropped by approximately 25%, marking its worst quarterly performance in the country since 2020. Concurrently, Huawei Technologies has regained the leading position in China's smartphone market, reporting a substantial 564% increase in first-quarter net profit of $2.71 billion and a 37% rise in revenue to 178.45 billion yuan. Huawei's aggressive comeback has been particularly notable given the ongoing U.S. restrictions against it. Meanwhile, Apple's overall market share in China has decreased by 4 percentage points to 15.7%.
Apple’s $AAPL iPhone sales in China declined ~19% YoY in the first quarter, its worst quarterly performance in the country since 2020. Apple’s market share fell 4 percentage points to 15.7%, leaving it in third place after leading China’s market in Q1 last year. https://t.co/0Fz70o0P7u
Huawei's quarterly profit surges as comeback gathers pace https://t.co/s2ygbQ2Bwq they should send Raimondo an award
Chinese tech giant Huawei posts over fivefold rise in Q1 profits #ARYNews https://t.co/xDSMoyadh5
Huawei's quarterly profit surges as it takes China phone market share from Apple - Reuters https://t.co/HVg9tWxIop via @YahooFinance
Chinese tech giant Huawei profit surges 564%, biting into Apple sales https://t.co/1crhctSFz5
Huawei's quarterly profit surges 564% as it takes China phone market share from Apple https://t.co/SGfrcrvTdw
Huawei's quarterly profit surges as comeback gathers pace https://t.co/nuR5Mj06Jr https://t.co/bUmcFNAWXO
Huawei’s First-Quarter Net Profit Rose More Than Sixfold https://t.co/4Yewljq4pO
🚨 CHINA'S 'APPLE' SHOWS MASSIVE Q1 PROFITS Huawei, China’s Apple, posted a staggering 564% increase in first-quarter net profit, reaching 19.65 billion yuan ($2.71 billion) despite being banned in the US. Revenue also jumps 36.7% to 178.45 billion yuan, highlighting robust… https://t.co/oqMwuvqltf
China’s Huawei is making 564% more profit than last year, with smartphone shipments up 70% in the first quarter (Apple’s iPhone sales in China fell 19%.) https://t.co/zZqpGX4OLQ
⚠️ HUAWEI TECHNOLOGIES' FIRST-QUARTER NET PROFIT SURGES 564% Y/Y Full Story → https://t.co/zerBcPueUm Huawei Technologies posted a first-quarter net profit of 19.65 billion yuan ($2.71 billion) on revenue of 178.45 billion, a filing showed on Tuesday. https://t.co/0E77yUTfIm
Huawei reports Q1 revenue up 37% YoY to ~$24.7B and net profit up 564% YoY to ~$2.7B, rising for the fourth consecutive quarter, buoyed by smartphone sales (Bloomberg) https://t.co/7f1rKRiCZx 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/SXN5wPhYRC
Huawei’s profit rose for the fourth consecutive quarter, a sign the Chinese tech company is taking market share from Apple and other smartphone rivals https://t.co/g0uY0WVIKG
Apple shares gain ground after Bernstein analyst upgrade https://t.co/JN8xeJ5hFi https://t.co/hZJ6FBm4EY
⚠️ APPLE SHARES RISE 3% AFTER ANALYST UPGRADE Full Story → https://t.co/7I1hgP5vwY Shares in Apple Inc were up 3% on Monday after a well-known analyst at Bernstein Societe Generale Group upgraded the stock to an "outperform" rating, pointing to the prospects for phone… https://t.co/INsyJcI45s
Apple getting an upgraded today at Bernstein, it's our #CallOfTheDay. The Investment Committee debate the tech giant. $AAPL https://t.co/0rUjAIkpaM
Apple; what are folks expectations/thoughts for earnings? $AAPL
Bernstein today upgraded Apple $AAPL to Outperform from Market Perform with a $195 price target
$AAPL Bernstein upgrades Apple to outperform from market perform Bernstein says investors should “buy the fear” ahead of Apple earnings later this week. “We are upgrading AAPL from Market-Perform to Outperform and maintaining our price target of $195.”
Bernstein says 'be like Buffett' and buy Apple shares while they are cheap, upgrades to outperform https://t.co/ubk3uXobnd
$AAPL | Apple shares are trading higher after Bernstein upgraded the stock from Market Perform to Outperform.
BERNSTEIN ups $AAPL to Outperform, $195 target: “.. $AAPL has de-rated significantly amid a weak iPhone 15 cycle and fears that Apple’s China business is structurally impaired. We believe prevailing weakness in China is more cyclical than structural .. replacement cycle… https://t.co/10sVgt4Xi3
Apple loses its spot as the world's top seller of smartphones after tough China competition from brands like Xiaomi and Huawei. https://t.co/5aSqG8XQi2
Following a great launch quarter, China iPhone sales are pretty bad so far in 2024 https://t.co/Ac6Az3LcNi #Apple
The bar on these earnings have been lowered so much Apple will probably put up a weak “beat” and surge 10% imo. $spy $qqq $nq $aapl
Following a great launch quarter, China #iPhone sales are pretty bad so far in 2024. Have you bought an iPhone this year?👀 https://t.co/O3X004DZMv
Huawei has returned to the top of China's smartphone market after staging an aggressive comeback in the face of an ongoing U.S. crackdown, with Apple falling to fifth by shipments in Asia's largest economy. https://t.co/S0nCIdP4Ol
iPhone sales spiral 25% in China as Apple drops from first place to fifth https://t.co/YSygIJpS9M by @ChanceHMiller
Apple Falls From First Place to Fifth Place in Chinese Smartphone Market #applenews https://t.co/CxYFmxPOLq https://t.co/h4ebdtyoEA
After the second-best iPhone launch quarter Apple has ever had in China, new sales estimates claim that Apple also had the biggest quarterly drop it has ever had. By @WGallagher https://t.co/nZPdL2Tn7A
Apple Sinks From First to Fifth Place in Chinese Smartphone Market https://t.co/vDK6464UAK
Huawei retakes crown in China handset market as Apple sinks to fifth https://t.co/0h6nghMmam
Apple Drops to Fourth Place Smartphone Seller in China https://t.co/KgID4pGKUD
#Apple loses top spot in #China market with shipments down 6.6% in Q1, data shows https://t.co/0o6FoWSoGO