See full article on Bloomberg -- sales of iPhones and iPads in China are surging in many Chinese cities monitored by the Ministry located in Nanjing. Great news for after following the Chinese ministry urging citizens to exercise restraint on restaurant, beverage and fireworks consumption for the Chinese NY celebrations resulting in less sales yoy in those sectors, but sales of AAPL products are booming in many Chinese cities being monitored by the Ministry.
Sales of “high end” electronics, including Apple Inc.’s iPad and iPhone, jumped 36 percent in shops monitored by the ministry in the eastern city of Nanjing, according to the statement. In contrast, spending at “high-end” restaurants in the eastern province of Zhejiang dropped by more than 20 percent, the ministry said.
The data are based on sales at “major retail and restaurant outlets” monitored by the ministry, according to yesterday’s statement, which didn’t specify the number of stores or whether the figures were adjusted for inflation. The cities of Beijing, Shanghai and Nanjing, and the central and eastern provinces of Shandong, Henan, Hebei, Zhejiang and Hubei were mentioned in the report.
In the handful of cities and multiple regions monitored by the Chinese Ministry, sales of AAPL products (iPhones and iPads) were up 36% over the robust prior year period... AAPL is going to be just fine, ready to surprise to the upside now with old fox Tim grinning now.
let's also hope they come with something a lot more compelling than raising the common stock dividend to $3/quarter... such a pittance change will go over like a Baby Ruth in the punchbowl.
doing their press release math, when they announced the $45B capital distribution plan last year they said they'd spend that over 3 years... so now they have spent ~$10B (mostly the common dividend) and they have added some ~$50B t12m additional cash to the firepower to do something with to repair/defend the stock valuation.
We hope they have already spent the ~$15B allocated to the forward 3 year buyback concept, and that they do a special div AND add another $40B or so to the share repurchase plan forward 3 years... That will make it clear they "get it" and that there will be no preferred stock any time soon. Still, thanks to Einhorn for waving his arms around on this topic.
You are such a pumper. I am long but keep it real dude. The article states that high end electronics are up, NOT specifically iPhone and iPad, but all electronics. It does not say sales are "booming" or anything like that.
Sales of “high end” electronics, including Apple Inc.’s iPad and iPhone, jumped 36 percent in shops monitored by the ministry in the eastern city of Nanjing, according to the statement
I found it, on BLOOMBERG, under CHINA Heading, and the Article is about the Chinese New Year's Week Sales, under further sub-heading in article Restaurants, it speaks of Restaurant sales being weak but High End Electronics Apple IPADs and IPHONE sales up 36% vs. prior year's Chinese New Year's Week.
All I know is my Chinese woman-friend in NYC bought herself a new IPHONE5 for $650 for the Chinese New Year (year of snake). She feels its a bargain here, cause they sell for more in China. She bought the IPHONE5 because she's of the upper middle class from Mainland China, and unlike so many Americans in debt now, she says "Chinese all have Savings and Cash" and don't mind spending some money to have a few of the finer things in life. She says very few Chinese can afford Cars, but many can afford an Apple IPHONE.