Apple's China Revenue May Triple Over Two Years, Analysts Say
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.
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."