Apple China iPhone demand rebound bolsters US$300–$315 price target outlook

Apple Inc.'s iPhone demand is showing a sharp rebound in China, indicating an increase in market share for the company. While the overall Chinese handset market shows sluggish growth, Wells Fargo maintains an Overweight rating on Apple with a $300 price target. Analysts argue that recent shipment trends signal improving momentum for the iPhone franchise. Apple shares recently traded around $273, while the company's market cap is estimated at about $4 trillion. According to data from the China Academy of Information and Communications Technology, shipments of non-Chinese branded smartphones surged 128% year-over-year, increasing Apple's market share from 10.6% to 22.4%. Meanwhile, shipments of Chinese-branded handsets declined by 13%, highlighting a divergence between premium and mass-market demand. This suggests that Apple continues to capture share at the high end, and investors are optimistic about the company's performance going forward.