According to Morgan Stanley analysts, the proportion of iPhones with more than two years of age in China has exceeded 68%, up nearly 8% from last year and more than 20% from 2017. < p > < p > Morgan Stanley said: “in our view, this indicates a huge upgrade potential for the iPhone in China, the largest in at least four years, which will support our optimistic forecast that Apple’s iPhone shipment growth will significantly accelerate in fiscal 2021.” < / P > < p > the second is that the iPhone has become more affordable, thanks to the introduction of the cheaper second-generation iPhone SE model. At the same time, the market expects that the price of the next generation iPhone flagship model will be relatively stable, which will also promote the upgrading of users. The general bullish sentiment in the market has driven apple to become the first U.S. listed company with a market value of $2 trillion. Apple’s share price has risen more than 57% this year. < / P > < p > although Apple was forced to close its stores in China earlier this year because of the epidemic, iPhone sales fell to a low of less than 500000 units in February, but since then, Apple’s China business has rebounded steadily, thanks in part to the launch of the iPhone 11 series last year. In the second quarter of this year, the company successfully achieved revenue growth in the Chinese market.