Brightened by a growth in demand in China, Apple Inc. (NASDAQ:AAPL) is poised to report some of the best results in the recent past, attributed to impressive iPhone 6 and iPhone 6 Plus sales. During an interview in CNBC, Cantor Fitzgerald Managing Director, Brian White, reiterated that iPhone fever might be catching up with people in China, something that should be good for Apple in terms of unit’s sales.
The iPhone fever in China comes on the heels of CEO, Tim Cook, last fall reiterating that China was in line to surpass the U.S. as Apple Inc. (NASDAQ:AAPL)’s largest marketplace in terms of device sales.
“We went there in the third quarter we went again in the fourth quarter and what I found is they could not meet the demand in China. If you go even to Hong Kong, they were selling iPhones for $2100, and they go, this is the high-end iPhone 6 plus, they go for $1000 at the Apple store. People were strapping iPhones to their bodies taking them across the border,” said Mr. White.
Despite facing regulatory hurdles in China, Apple Inc. (NASDAQ:AAPL)’s momentum in the country seems not to have been dented. Heading into the company’s earnings results, expectations are high that Apple will beat estimates as demand for iPhones continues to soar.
iPhone 6 sales according to White offer a perfect stepping stone for a great year in terms of sales as the company is also set to enter a new product category with Apple Watch.
“[…] We are very bullish on Apple Watch almost no one in the world, how much you went to the Apple’s special event, has played and put the Apple Watch on their wrist. I think people are going to be in love with this thing number one. Number two, iPhone 6, iPhone 6 Plus is not a short-term phenomenon. In Asia everyone moved away. They Moved away; they went with competitors because Apple Inc. (NASDAQ:AAPL) did not have a bigger phone, now they do, and they are moving back in, and that is huge,” said Mr. White.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.