Apple's Chinese smartphone-component suppliers broadly advanced in Friday trading after the U.S. company said iPhone demand in China was strong, despite overall sales declining for that market.
Apple on Thursday reported results for the fourth quarter ended Sept. 30, with sales coming in at $89.50 billion. Revenue from iPhones was $43.81 billion, compared with $42.63 billion in the year-earlier period. Apple's overall sales in China fell 2.5% from a year earlier, but Chief Executive Tim Cook blamed that decline on poor MacBook and iPad sales.
Softer MacBook and iPad sales in China mask the underlying growth that analysts are truly focused on, which is robust iPhone demand in the country, Wedbush analysts said in a research note.
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