Apple (AAPL) shipped 10 million iPhones in China during September and October, according to Bloomberg. That would be an increase of 6% from the same period in 2019.
The projections add to speculation that sales of the iPhone 11 are running ahead of Wall Street expectations.
In an effort to increase iPhone sales in China Apple lowered the retail price for the iPhone 11, upgraded the phone’s cameras to catch up with photo technology leaders Google and Huawei, and improved battery performance.
These early numbers argue that those changes have helped. The increase in sales of the iPhone 11 would run counter to a general decrease in smartphone sales in China. According to the Ministry of Industry and Information Technology Chinese smartphone shipments fell 5% in the September/October period.
The Apple news is also good news for stocks of Apple suppliers such as Skyworks Solutions (SWKS) and Cirrus Logic (CRUS), both members of my Volatility Portfolio on my paid JubakAm.com and JugglingWithKnives.com sites.