China is Getting Huge for Apple (AAPL)
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Price: $316.22 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
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Apple (Nasdaq: AAPL) is really gaining traction in China and the populous country has the opportunity to become the company's largest market before too long. Right now it's number two.
With its last fiscal year 2011, Greater China revenue accounted for 12 percent of total company revenue. This is up sharply from the 2 percent it represented two years ago. For the year, China brought in over $13 billion for Apple, up from $3 billion last year. In the latest quarter, China accounted for $4.5 billion in revenue, or 16 percent of total revenue. This was up 270 percent from last year.
Apple now has six stores in Greater China, including its recently opened Hong Kong store.
CEO Tim Cook said the opportunity in China is huge.
"I've never seen a country with as many people rising into the middle class that aspire to buy products that Apple makes. And so I think it's an area of enormous opportunity," Tim Cook said on Tuesday's conference call.
Apple continues to rigorously invest in China, including building more stores.
In addition to China, Brazil is another emerging market for Apple. Brazil sales were up 118 percent year-over-year to $900 million. Also, Russia is "beginning to look more and more promising" and the company sees significant opportunities in the Middle East.
With its last fiscal year 2011, Greater China revenue accounted for 12 percent of total company revenue. This is up sharply from the 2 percent it represented two years ago. For the year, China brought in over $13 billion for Apple, up from $3 billion last year. In the latest quarter, China accounted for $4.5 billion in revenue, or 16 percent of total revenue. This was up 270 percent from last year.
Apple now has six stores in Greater China, including its recently opened Hong Kong store.
CEO Tim Cook said the opportunity in China is huge.
"I've never seen a country with as many people rising into the middle class that aspire to buy products that Apple makes. And so I think it's an area of enormous opportunity," Tim Cook said on Tuesday's conference call.
Apple continues to rigorously invest in China, including building more stores.
In addition to China, Brazil is another emerging market for Apple. Brazil sales were up 118 percent year-over-year to $900 million. Also, Russia is "beginning to look more and more promising" and the company sees significant opportunities in the Middle East.
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