Apple's (AAPL) China Sales Expected to Triple
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Rating Summary:
46 Buy, 27 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
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Apple (Nasdaq: AAPL) will triple its sales in China over the next two years, according to analysts at Morgan Stanley.
According to the firm, Apple will make $9 billion in sales in China in the year ending September 2012, which is up from $2.9 billion last year.
Morgan Stanley said investors "under-appreciate" the company's growth prospects in China. Apple has a "brand preference" among higher-income China consumers, the firm also noted.
Shares of Apple closed at $304.18 yesterday, with a 52-week range of $185.57-$319.00.
According to the firm, Apple will make $9 billion in sales in China in the year ending September 2012, which is up from $2.9 billion last year.
Morgan Stanley said investors "under-appreciate" the company's growth prospects in China. Apple has a "brand preference" among higher-income China consumers, the firm also noted.
Shares of Apple closed at $304.18 yesterday, with a 52-week range of $185.57-$319.00.
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