Apple (AAPL) may see its revenue from China triple over two years as the company expands its sales network demand from consumers rise, Morgan Stanley (MS) said.
Apple's sales in China may be worth more than $9 billion in the year ending September 2012, Morgan Stanley analysts said in a report. In the last fiscal year, Chinese sales were worth $2.9 billion.
The analysts forecast that growth in Apple's Asian earnings will outpace all other regions, Bloomberg News said.
Last month, Apple started taking online orders from customers in China.
"We continue to believe investors under-appreciate Apple's growth prospects in China," the Morgan Stanley analysts said. There is "brand preference for Apple products among higher- income China consumers."