Apple Inc. (AAPL) is showing early signs of a comeback in China after a few weak quarters. The launch of the new iPhone 17 lineup helped lift Apple’s smartphone sales in the country by 37% in October, making it one of the strongest months Apple has seen there in recent years.
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According to data from Counterpoint Research, one in four phones sold in China last month was an iPhone, giving Apple a 25% market share, its highest since 2022. Every iPhone 17 model, from the base version to the Pro Max, outsold the iPhone 16 versions they replaced, with double-digit sales growth across the lineup.
This reflects strong consumer demand for the new upgrades and fuels optimism about Apple’s growth prospects in the key Chinese market.
iPhone 17 Drives a Turnaround
Ivan Lam, senior analyst at Counterpoint, noted that more than 80% of Apple’s phone sales now come from the new iPhone 17 lineup. He added that the higher average selling price (ASP) of the new models could help Apple report stronger revenue in the coming quarters. These results support Apple CEO Tim Cook’s recent comments that sales in China are on track to return to growth this quarter.
Adding to that momentum, earlier data also showed that iPhone sales in China jumped 22% year-over-year in the month following the launch, despite the overall smartphone market shrinking. This contrasts sharply with last year’s iPhone 16 release, which experienced a decline in its first month.
With momentum returning in China, Apple appears well-positioned to maintain its lead in the premium smartphone segment, even as domestic rivals prepare new launches and competition intensifies.
Is AAPL a Good Stock to Buy?
Analysts remain divided about Apple’s long-term prospects. On TipRanks, AAPL stock has a Moderate Buy consensus rating based on 21 Buys, 12 Holds, and two Sell ratings. The average Apple price target of $289.17 implies 8.12% upside potential from current levels. Year-to-date, AAPL stock has gained 7.3%.
