Apple (NASDAQ:AAPL) shares rose in early buying and selling on Wednesday as a few analysts stated the tech large is seeing “constructive” momentum in China and an uptick in demand for the iPhone.

Wedbush Securities analyst Dan Ives, who has an outperform score, famous latest checks in China have been “incrementally extra constructive” because the nation reopens its financial system and rebounds from its COVID-19 associated lockdowns.

“The months of January and February and early indications round March are regular on the iPhone entrance for Cupertino globally which is a stark distinction to what we noticed within the provide constrained December quarter because of zero Covid China points,” Ives wrote in an investor be aware, whereas elevating the per-share worth goal to $190 from $180.

As well as, Ives stated Apple (AAPL) has not seen any main unit cuts from suppliers in Asia and that over the previous 12 months, the corporate has gained roughly 300 foundation factors of smartphone market share in China.

“With the extremely anticipated anniversary version iPhone 15 set to be launched within the September timeframe the baton handoff from iPhone 14 to iPhone 15 appears to be like to be a steadier transition than another peak to valley iPhone cycles of the previous,” Ives added.

Trying forward, Ives added that Apple (AAPL) is more likely to make plenty of new bulletins within the subsequent a number of months that might be “noteworthy,” together with the launch of its extensively anticipated combined actuality headset, a {hardware} subscription plan, extra service bundling choices and new Mac computer systems.

In a separate be aware, Cleveland Analysis analyst Ben Bollin additionally stated iPhone demand appears to be like to be “better-than-expected” within the quarter.

“Suggestions continues to name out [Apple] as gaining or keep share throughout {hardware} classes and new this spherical of labor is extra discuss on [Apple’s] launch of an AR/VR system probably at WWDC in June (unit forecasts nonetheless unclear),” Bollin wrote.

On Tuesday, Apple (AAPL) introduced a yellow iPhone 14 and expanded its Emergency SOS satellite tv for pc function to a number of extra international locations.