Resilient Apple Boosts Market Share In Q2 Amidst Dwindling Global Smartphone Sales
Portfolio Pulse from Rounak Jain
Apple Inc. (NASDAQ:AAPL) has increased its market share in global smartphone shipments to 17% in Q2 2023, up from 16% a year ago, despite a global slowdown in smartphone shipments. Apple's shipments fell by only 2%, compared to an 8% decline in global smartphone shipments. Apple's resilience is attributed to the premium nature of iPhones, which are relatively immune to the slowdown. Apple's gains were particularly notable in markets like India, where its shipments registered a 50% year-on-year growth.
July 18, 2023 | 1:29 pm
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Apple's resilience amidst a global slowdown in smartphone shipments and its increased market share could positively impact its stock price in the short term.
Apple's ability to increase its market share and maintain relatively stable shipment numbers despite a global slowdown in smartphone sales demonstrates its strong market position and the high demand for its products. This could increase investor confidence and drive up the stock price in the short term.
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RELEVANCE 100