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Apple Inc. Message Board

  • dcj49 dcj49 Feb 3, 2013 12:11 PM Flag

    Look for China revenue alone to top $10billion and gross margins increase to 40% q2. Why?

    Chinese New Year. New form factors out already out. China IS apple's fasterest growing market @ 67% q1. Q2 2012 was a blowout in China.

    THURSDAY, JANUARY 31, 2013 AT 9:54 PM
    Watch As China Has Grown To Become Apple’s Second-Biggest Market
    Apple has been sharing some details of its success in China for a while. But last week, Apple formally created a Greater China segment in its quarterly earnings materials — it previously reported only a broader Asia Pacific segment — and released two years of historical data. (“Greater China” also includes Taiwan and Hong Kong.)

    The upshot: China is easily Apple’s fastest-growing market, with December-quarter sales up 67% year-over-year, compared to Apple’s 18% overall growth and 15% growth in the Americas. This is why I always think of China when topics like “cheaper new iPhone model!” come up.

    China generated $6.8 billion of revenue for Apple last quarter, not including Apple retail stores, which are a separately reported category. (On Apple’s earnings call, CEO Tim Cook noted that China including retail was $7.3 billion, but Apple has only reported that data sporadically.) That’s about 13% of Apple’s overall sales, or ~14% if you include retail. But China represented 34% of Apple’s year-over-year December-quarter revenue growth, while the much-bigger Americas market represented 32%.

    It wasn’t always this way. A few years ago, China didn’t deserve its own line on Apple’s reports. Now it clearly does.

    One note: While this past quarter was Apple’s biggest ever overall, sales-wise, it wasn’t the biggest China quarter. Apple’s Greater China business generated a peak $7.6 billion during the March 2012 quarter, when the iPhone 4S launched in mainland China. ($7.9 billion including retail.) China represented 19% of Apple’s overall sales that quarter

    Sentiment: Hold

 
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