Apple breaks record high… “Sales of iPhone 16 increase by 20% compared to iPhone 15”

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It was analyzed on the 18th (local time) that Apple’s latest smartphone, the iPhone 16, is gaining popularity in the Chinese market. According to Counterpoint Research, sales of the iPhone 16 in China during the first three weeks of its release surged 20% compared to the first three weeks of the iPhone 15’s release last year. Reuters Union

Apple hit its all-time high stock price on the 18th (local time) in about three months thanks to good news from China.

This is thanks to a survey showing that the newly released iPhone 16 is enjoying stronger popularity than the iPhone 15 in the Chinese market.

In China, Apple’s third-largest market after the United States and Europe, the iPhone, which had been struggling behind smartphones from domestic companies, appears to be capturing the hearts of consumers again.

With the iPhone 16, expectations are growing that Apple will take a leap forward by escaping from the negative factors of weakened competitiveness in the Chinese market and slowing sales.

20% increase in sales

Market research firm Counterpoint Research concluded in a report on the 18th (local time) that the latest iPhone, the iPhone 16, is more popular in China than when the iPhone 15 was launched last year.

According to the report, sales of the iPhone 16 in China during the first three weeks of its release exceeded sales of the iPhone 15 by 20% during the first three weeks of its release.

After the iPhone 16 unveiling event, there was a series of harsh reviews from consumers and analysts, and Apple Intelligence (AI), the highly anticipated Apple artificial intelligence (AI), failed to start service right away and decided to announce it later than scheduled, resulting in a major positive news for Apple, which was struggling. .

Wedbush Securities analyst Dan Ives, a leading optimist, praised Counterpoint Research’s analysis in an analysis note, saying it was consistent with the facts he knew.

“This industry analysis is consistent with our recent travel to Asia and supply chain reviews,” Ives said. “We believe iPhone 16 sales in China will recover strongly with the start of an AI-led supercycle over the next year. “I believe it will be visible,” he said.

Ives recommends Apple an earnings beat (buy) and proposes a target stock price of $300.

AI is not important

The popularity of the iPhone 16 in China suggests that, contrary to expectations, AI may not be a very important factor in the iPhone 16 super cycle.

Analysts who are optimistic about Apple have pointed out that iPhone users have been delaying device replacement and that there is a huge potential demand for device replacement. We have been optimistic that the iPhone 16, armed with AI, will ignite demand for device replacement among these customers and will result in massive sales of the iPhone 16.

However, the iPhone 16’s boom in China indicates that AI may not be the key factor.

Apple AI has not been released yet, and even if AI is released, Apple AI cannot be used in mainland China. This is because the Chinese authorities will not allow this.

It is certain that China, which censors the Internet, will not allow its citizens to use the AI ​​created by Apple.

Ultimately, this means that the popularity of the iPhone 16 in China is separate from AI.

It is difficult to find a suitable explanation other than that Chinese consumers, who had previously ignored the iPhone, are turning their attention to the iPhone again.

Counterpoint previously announced that iPhone sales in China in the first quarter of this year were the worst since the pandemic in 2020.

Apple, which lagged behind in competition with smartphones from domestic Chinese companies, can be seen to have seen a significant increase in sales as it scratches the itch of Chinese consumers with the iPhone 16.

On this day, Apple’s stock price broke its all-time record.

Apple closed at $235.00, up $2.85 (1.23%) from the previous day.

Based on the previous closing price, the all-time high was $234.82 recorded on July 16.

[email protected] Reporter Song Kyung-jae

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