Since the beginning of the year, the media has repeatedly reported on Apple’s intentions to adjust the production program for the release of the iPhone for this year, as well as the company’s problems with timely preparation for the announcement of the new generation of smartphones due to the spring lockdown in China, where production is concentrated. It has now been revealed that iPhone shipments from China increased by 155% in May compared to April.
If you rely on it UBS dataIn May, Apple contractors in China produced two and a half times more iPhones than in April. It’s evident that the company’s partners are making efforts to restore production volumes after lengthy lockdowns that either didn’t allow them to work at all or severely curtailed production volumes. Apple’s progress is even clearer against the backdrop of its competitors – according to UBS, the total volume of smartphone shipments from all brands from China increased sequentially by only 16% in May.
In May this year, 9% fewer smartphones were released than a year earlier. Coming back to the iPhone, UBS experts expect production volume of these devices to be 42 million units in the second quarter, and this is the most conservative estimate. Analysts at UBS recommend buying Apple shares and assign them a target price of $185 per share.