Apple may find its new core in China

Increasing demand in China for Apple Inc's latest flagship devices, the iPhone 6 and iPhone 6 Plus, has spurred consumers there to buy more of the devices than their American counterparts for the first time, data from Switzerland-based financial services company UBS AG showed.

"Recent data suggest that iPhone demand saw considerable growth in China, even finding that China could constitute as much as 35 percent of shipments in the quarter compared with 22 percent a year ago," Steven Milunovich, an analyst with UBS, wrote in a research note published on Wednesday.

The US share of iPhone sales is expected to dip from 29 percent a year ago to 24 percent in the first quarter of 2015, he wrote.