Daiwa: 618 Drives Apple (AAPL.US) Sales in China, Q2 Revenue May Increase by $4 Billion

According to the financial news app, Morgan Stanley has released a research report maintaining a "overweight" rating for Apple (AAPL.US), with a target price of $235. The firm stated that thanks to the promotions during China's 618 shopping festival and government subsidy policies, iPhone and iPad sales performance in the second quarter exceeded expectations. It is expected that this will bring in revenue growth of up to $4 billion in the second quarter. This positive trend indicates that Apple's stock price may receive support in the short term, especially as its valuation is close to a two-year low.