According to recent research by Counterpoint, A￼pple is now the dominant smartphone player in China after notching record-high market share in the world’s second-largest economy, which bodes well for Apple shareholders.
Apple captured 23% of the Chinese smartphone market in the fourth quarter of 2021, up from 16% a year ago and its most ever… A shining fourth quarter in China brings Apple’s total market share in the country to 16% across all of 2021, up from 11% a year ago and just six percentage points behind Vivo, the leader by market share.
The update is good news ahead of Apple’s earnings because the stock price is typically highly reliant on iPhone sales, which are a key driver for the company’s profits.
Wall Street expects Apple to report $119 billion in revenue for the last quarter of 2021, up 7% from a year ago, with iPhone sales up 3% from 2020 to $67.6 billion.
Strong results from the tech giant later Thursday, in the form of estimate-beating sales, earnings, or particularly guidance, would be very welcome on Wall Street. Tech stocks have been in a rut all year, with the Nasdaq down 14.5% since the start of 2022. Apple stock has declined more than 12% over the same period.
MacDailyNews Take: As always, it’ll be very interesting to see how Wall Street reacts to the mountain of cash Apple lays before them later today.
MacDailyNews Note: Apple reports Q122 results later today, January 27th. We’ll have Apple’s results for you as soon as they are released, just check our homepage right around 1:30 p.m. PT / 4:30 p.m. ET. We will follow that with live notes from Apple’s’ conference call starting at 2:00 p.m. PT / 5:00 p.m. ET.
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