Business
Apple Store in Shanghai, China
The Apple Store at Hong Kong Plaza in Shanghai, China

Apple is back in the big time in China

The iPhone maker logged its strongest China sales in years as upgrades and switchers surged.

Apple just posted record quarterly revenue and iPhone sales — and China, a sore spot for years, was a big reason why.

For the quarter ended December 2025, Apple’s total revenue rose 16% year on year to $143.8 billion, with sales in Greater China — the company’s third-largest region after the Americas and Europe — surging 38% year on year to $25.5 billion.

That marks Apple’s first quarter over $25 billion in China in four years — and its second-best quarter there on record.

CEO Tim Cook credited the turnaround to the iPhone 17 lineup, calling it “the best iPhone quarter in history in Greater China” in the earnings call. The September launch of the latest iPhone drove strong store traffic growth in the region, as well as record upgrades from older models and “double-digit growth” in customers switching from rival brands.

According to Counterpoint Research, iPhones accounted for more than one in five (22%) smartphone shipments in China in Q4 2025, the highest share of any brand, rising 28% from the year before.

The rebound comes after years of falling sales, weighed down by intensifying competition from local players like Huawei and Vivo, as well as government restrictions on the use of foreign devices among state workers.

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Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

Capsule Pill and Dots

Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

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