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Why AAPL Is Climbing Today
Apple (AAPL) is advancing 4% today after a research firm reported that the company’s iPhones were the best-selling smartphone in China last quarter. Earlier this month, another research firm stated that AAPL had dropped to third place in terms of smartphone market share in the Asian country.
An Apple store displaying the latest in consumer electronics, from smartphones to wearables.
The iPhone Was Reportedly the Q4 Market Share Leader in China
The device’s market share in China came in at 17.4% last quarter, the International Data Corporation (IDC) reported. That was slightly above second-place Huawei’s 17.2% share. However, the device’s market share was significantly lower last quarter than in Q4 of 2023, when it controlled 20% of the market. Further, for all of 2024, its market share dropped to 15.6% from 17.4% in 2023.
Last week, another research firm, Counterpoint, reported that the iPhone’s market share had been 17.1% in China last quarter, leaving the device in third place in the huge market. Counterpoint added that the number of devices handed over by Apple in China had tumbled 18.2% in Q4 versus the same period a year earlier. In Q4 of 2023, iPhone’s market share was 20.2%.
The Recent Price Action of AAPL Stock
In the last month, the shares have fallen 4.5%, while they are up 2.5% in the last three months.
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READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
Apple Inc. (AAPL) is on the rise today, and here’s why:
1. Strong quarterly earnings: Apple reported better-than-expected quarterly earnings, with revenue and profits surpassing analysts’ estimates. This positive news has boosted investor confidence in the tech giant’s ability to continue delivering strong performance in the future.
2. iPhone sales are up: Apple’s latest iPhone models, including the iPhone 12, have been selling well, driving revenue growth for the company. The strong demand for these devices has contributed to AAPL’s stock price climbing today.
3. Bullish sentiment in the tech sector: The overall tech sector has been performing well, with many tech companies reporting strong earnings and seeing their stock prices rise. This positive sentiment has spilled over to AAPL, helping to push its stock price higher.
4. Optimism about future products: Apple is rumored to be working on several new products, including augmented reality glasses and a self-driving car. Investors are excited about the potential for these new products to drive future growth for the company.
Overall, a combination of strong earnings, solid iPhone sales, bullish sentiment in the tech sector, and optimism about future products has helped to drive AAPL’s stock price higher today.
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