Steady iPhone pricing drives Apple’s market share to nearly 20% amid global smartphone shipment declines.
Apple is on track for its strongest June-quarter sales growth in five years, fueled by stable iPhone pricing despite rising component costs. The company avoided price hikes for its flagship product, unlike rivals, boosting shipments by 3% and lifting its market share to nearly one-fifth, per Counterpoint Research.
Global smartphone shipments fell to a 13-year low in the April-June quarter as competitors passed on higher costs. Apple’s decision to hold iPhone prices steady contrasted with its recent increases for iPads and MacBooks, aimed at offsetting chip shortages driven by AI datacenter demand.
Apple’s market value briefly surpassed $5 trillion on Tuesday, reclaiming its title as the world’s most valuable company from Nvidia. Shares have risen nearly 25% this year, outperforming peers in the “Magnificent Seven” as investors question the returns on AI-related spending.