Jefferies analyst Edison Lee tells investors in a research note that since Apple raised Mac and iPad prices, China's internet platforms have driven post-618 discounting on iPhone 17 Pro/Pro Max models, alongside shorter-lived promotions from Suning and WeChat channels, contributing to roughly 20% volume growth over the recent fortnight. While these platform-led initiatives likely make Apple a net beneficiary in the near term, demand strength appears partly supported by elevated trade-in values that may be difficult to sustain, leaving shares potentially range-bound, the firm says. Jefferies has a Hold rating and $299.88 price target on the stock.
