Purchase intent for Apple's iPhones in China reaches 'lowest level ever,' says UBS [MarketWatch]
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Source: MarketWatch
Purchase intent for Apple's iPhones in China reaches 'lowest level ever,' says UBS UBS analyst Timothy Arcuri wrote Thursday that purchase intent for Apple Inc.'s AAPL, -1.73% looks to be stabilizing in most of the world, except for in China. His firm's survey of smartphone owners found that only 17% of Chinese respondents plan to purchase an iPhone in the next 12 months, compared with 22% when the survey was last conducted in October. "The survey has been directionally accurate in predicting demand for the next 12 months," Arcuri wrote. He said that Apple's China numbers face easier comparisons going forward but are still high in the next six months. "We do think a nationalistic movement - similar to the one we saw at the time of the arrest of Huawei's CFO in November - seems quite probable and would impact iPhone sales," Arcuri wrote of trade tensions between the U.S. and China. He cut his price target to $225 from $235 but maintained a buy rating on shares, which are off 2.4% in
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