Bump in Chinese mobile phone shipments is a positive for Apple, analyst says

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Chinese domestic mobile phone shipments in April rose 14% on a year-over-year basis to 41.7 million, according to the China Academy of Information and Communications Technology, a research institute that’s part of China’s Ministry of Industry and Information Technology. The disclosure served as “another data point illustrating a strong recovery in China,” Wells Fargo analyst Aaron Rakers wrote in a note to clients. The data also showed a 11.9% rise in shipments of local-brand mobile phones to 38 million, which Rakers said implied the non-China branded smartphone shipments were up 44% to 3.7 million. “We believe the snapback in total registration, and the even more pronounced growth in non-China branded registrations should be considered a positive for Apple’s F3Q20 iPhone shipments in China,” he wrote. Apple shares are up 0.9% in Tuesday trading. They’ve lost 2.9% over the past three months as the Dow Jones Industrial Average has declined 18%.

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