Apple's iPhone sell-in to China fell 19% year over year in May, according to UBS, citing data from the China Academy of Information and Communications Technology. UBS analysts led by David Vogt called the data mildly disappointing given prior sell-through momentum, and noted the decline suggests potential incremental iPhone supply chain headwinds. The bank estimated iPhone unit sell-in to China is down about 10% for the first two months of the June quarter, and said iPhone upside in China is looking less likely. UBS has a Neutral rating and $296 price target on Apple.
Apple Inc.iPhone sell-in to China fell 19% YoY in May, indicating weaker end-customer demand for Apple's products.
UBS Group AG