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UBS: Overall iPhone demand in China was up 230% in September

A note to clients from from the UBS Asia Hardware team — as noted by Apple. 3.0 — says that monthly government data suggests overall iPhone demand in China 230% in September. That compares to 110% monthly growth in September 2018, according to the investment bank.

Here’s what UBS has to say: “This is wholly consistent with recent procurement data/estimates A stronger sell-through combined with our supply chain work leads us to believe there is upside to our current iPhone unit estimate of flat for the Dec. quarter and flat Y/Y in F20. Apple stock is up ~8% against the S&P 500 down ~1% since the launch of iPhone 11 – an atypical seasonal pattern that we think duly reflects both our optimism about C2020 and AAPL’s prominence as a major global underweight for portfolio managers.

“Several factors are contributing to strong iPhone demand including a better trade-in program from Apple, a more attractive price-point for the base model, services bundle with hardware, and given the largest mix of phones in the install base (iPhone 7) is three generations old.”

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.