Apple's China sales jumped 28%: now analysts are rethinking AAPL

Apple’s fiscal Q2 results materially shifted market perception as Greater China revenue jumped 28% year-over-year to $20.497 billion, contributing to a record March-quarter revenue of $111.2 billion and EPS of $2.01. An all-time high active device installed base and record services revenue underscore a services-driven durability that could support margin expansion and multiple expansion as investors stop treating China as a structural drag. Analysts are rethinking AAPL’s upside, with buy recommendations tied to sustained China momentum and higher lifetime value from services. Key risk remains a rapid reversal of China growth driven by competition or regulatory pressures.