According to research firm IDC, in the fourth quarter of last year, Apple’s smartphone shipments in the Chinese market were estimated to have fallen by 20%, exceeding the 9.7% contraction in China’s domestic market. Due to the economic slowdown, rising prices and extended replacement cycles,iPhoneDemand is affected.
For a long time, investors have been worried about the prospects for Apple's flagship products, especially in China, which suggests that the trends found in the IDC report may have impacted the stock. Apple's share price fell more than 26% from record levels, but rose nearly 20% from its low in early January.
According to Bloomberg data, sales of iPhone smartphones accounted for more than 60% of Apple's 2018 revenue, and nearly 20% of this revenue came from China.