China to become Apple's biggest market in 2 years: Analyst

People experience in new Apple Store at Jiefangbei in Yuzhong District on January 31, 2015 in Chongqing, Sichuan province of China.
ChinaFotoPress | Getty Images
People experience in new Apple Store at Jiefangbei in Yuzhong District on January 31, 2015 in Chongqing, Sichuan province of China.

Apple's success story in China is just beginning.

In fact, analysts say that Wall Street underappreciates how much of a driver that market is for the tech giant's stock.

UBS analyst Steven Milunovich said in a Thursday note that "China has become a critical driver of Apple's results, providing over half of growth at above-average margins."