Apple Inc. (NASDAQ: AAPL), the world’s most valuable company, has just gained even more on its competitors, following positive sales data news from the Chinese market. The maker of the iPhone has now reached a market capitalization of $1.33 trillion.
This is the most valuable that Apple has ever been. Here’s everything investors need to know about the latest development.
Double-Digit Sales Growth in China
China is one of the world’s most important consumer markets. With a growing middle class, companies like Apple have been able to greatly expand their customer bases. Electronics are in particularly high demand.
Apple stock increased 2.12% at the close of the market on Thursday and is now up 3.09% over the last five days. Investor confidence is being driven by positive iPhone sales data.
According to data from CNBC, Apple sold 3.2 million iPhones in China during December. This was an 18% sequential increase and compares favorably to the 2.7 million iPhones that were sold in China in the same period in 2018.
Analysts are now predicting significant revenue from the Chinese market for 2019.
In the first quarter, Apple generated $13.2 billion in China. This was followed by $10.2 billion in Q2 and $9 billion in Q3. For the most recent quarter, sales are expected to hit $10 billion. In total, Chinese revenue should be close to $43 billion for all of fiscal 2019.
Apple generates close to $260 billion in revenue per year, which makes China responsible for around 16% of its total yearly sales.
Apple’s Stock Performance Over the Last Year
Apple’s stock boost on Thursday set the major indexes climbing. The company has been one of the best performers in the market over the last 12 months.
- Stock is up 101.32% over the last 12 months.
- Growth is tracking at 5.44% in the year so far.
- Stock is up 34.57% over the last 3 months.
In addition to the stock growth, Apple also comes with a dividend yield of 0.99%. Although mild, it still creates an excellent income opportunity to go along with the growth potential.
With trade tensions now easing between China and the U.S., Apple could continue its impressive run in China and around the world. The company will release new 5G phones in 2020, which could be the biggest boost to iPhone sales in years.
In addition to being the world’s most valuable company, Apple remains one of the most promising equity investments overall.
You may be interested
Apple is Splitting its Stock this AugustBecky H - August 3, 2020
Technology company Apple Inc. (NASDAQ: AAPL) has generated strong growth in the stock market this year, with its share price…
Latest Data Suggests Economic Recovery Will Be SlowAdam R - July 31, 2020
The stock market is performing well during the ongoing Coronavirus Pandemic. Many of the traditional growth stocks, especially in the…
Federal Reserve Leaves Interest Rates Near Zero for PandemicBecky H - July 30, 2020
The Federal Reserve, recognizing the difficult position the economy is in today, voted to keep interest rates at zero in…