Apple’s China Woes Stoke $20 Billion Xiaomi Rally
- Xiaomi up more than 60% from June low on new smartphone push
- JPMorgan sees ‘trading opportunity in the next six months’
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Apple Inc.’s sales dip in China is providing an opportunity for yet another local Android smartphone maker to win favor with customers and investors.
Xiaomi Corp. has gained about $20 billion in market value since a June low on excitement over its latest handset as well as as forays into electric vehicles and other businesses. The Hong Kong-listed stock rose more than 60% in that span, making it the best performer on the Hang Seng Tech Index.