Apple Inc. AAPL shares are down 0.5 percent on Thursday morning, and while the market may be focused on a text message bug, there's another story brewing on Wall Street.
UBS analysts Steven Milunovich and Peter Christiansen just issued a massive note on Apple in China.
The country is the primary "driver" of growth at the tech giant, UBS said. So much so, in the firm's eyes, that it holds a 12-month Buy rating on Apple with a $150 price target.
Check out seven graphics UBS compiled in the Apple report:
Tier 1 Cities Make Up The Majority Of Apple Store Distribution In China
iPhone Sales In China Are Becoming More Important To Apple
Premium Smartphone Share Is Growing At A Time When Competitors Are Shrinking Or Stagnant
Total Market Smartphone Share Is Also Growing
Market Share Is Expanding No Matter How One Looks At It
The iPhone Sells At Multiple Income Levels
The Apple Brand Is Trusted
And Users Are Committed
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