Apple phones crushed Chinese competitors for the first time in over a year. Goldman Sachs reports show iPhones beat local brands during May 2025. The tech giant slashed prices before China's massive summer shopping spree. Foreign phone sales dropped just 10 percent compared to domestic brands falling 22 percent. This marks Apple's best performance against Chinese rivals since May 2024.
Chinese shoppers snapped up iPhones after Apple offered huge discounts. The price cuts helped iPhone 16 Pro models qualify for government phone subsidies. Foreign brands grabbed 19 percent of China's phone market during May. That number jumped from 14 percent in April and 17 percent last year. Apple timed the discounts perfectly for China's 6.18 shopping festival.
Goldman Sachs analysts think Apple's success might not last long. China's entire smartphone market keeps shrinking as people buy fewer phones. Total phone shipments crashed 22 percent compared to last year. Chinese consumers appear reluctant to upgrade their current devices. The monthly decline hit 5 percent as spending habits changed across the country.
Apple stock has struggled despite beating Chinese competitors. Shares dropped 14 percent this year after tariff fears spooked investors. The company faces pressure from trade tensions between America and China. Investors worry about Apple's artificial intelligence progress and Siri improvements. Goldman Sachs maintains its buy rating with a $253 price target for Apple shares.
Chinese shoppers snapped up iPhones after Apple offered huge discounts. The price cuts helped iPhone 16 Pro models qualify for government phone subsidies. Foreign brands grabbed 19 percent of China's phone market during May. That number jumped from 14 percent in April and 17 percent last year. Apple timed the discounts perfectly for China's 6.18 shopping festival.
Goldman Sachs analysts think Apple's success might not last long. China's entire smartphone market keeps shrinking as people buy fewer phones. Total phone shipments crashed 22 percent compared to last year. Chinese consumers appear reluctant to upgrade their current devices. The monthly decline hit 5 percent as spending habits changed across the country.
Apple stock has struggled despite beating Chinese competitors. Shares dropped 14 percent this year after tariff fears spooked investors. The company faces pressure from trade tensions between America and China. Investors worry about Apple's artificial intelligence progress and Siri improvements. Goldman Sachs maintains its buy rating with a $253 price target for Apple shares.
