Consumer electronics giant Apple’s iPhone might have outperformed domestic rivals in the Chinese market for the first time since May 2024, suggests data from investment bank Goldman Sachs. Apple benefited from reducing its iPhone prices ahead of a major smartphone shopping season in China, says Goldman, as it adds that the outperformance could be transitory due to a sequential and global decline in China’s smartphone market.
Domestic Chinese Brand Smartphone Shipments Decelerated Faster In May Than Foreign Brands, Says Goldman Sachs
While Apple was the rare big technology stock that stood its ground after January’s DeepSeek selloff, the shares have taken quite a beating on the market since then. The shares have lost 14% year-to-date despite recovering a major portion of their 23% drop in April following the Liberation Day tariff announcements.
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