Apple Gains Market Share to 22% as Analysts Raise Targets Ahead of Event
Apple Inc. (AAPL) expanded its global smartphone market share to 22% in the third quarter despite a drop in total global shipments. Strong demand for the iPhone 18 Pro in China and India supported the market share gain, even as shipments in China fell 4.3% year-over-year to a 17.8% market share due to fewer model offerings. Shares of Apple Inc. rose 1.29% to $341 in recent trading.
Financial analysts maintained positive outlooks while accounting for shifting market conditions. Target prices were raised to $360 and kept at $370, with expectations that higher average selling prices will offset lower total unit volumes. Analysts projected December-quarter earnings per share of $2.81 on 69 million iPhone shipments. Meanwhile, market watchers noted potential competition from SpaceX in mobile connectivity, which could affect U.S. iPhone sales if carrier subscribers switch, though near-term earnings risks remain limited.
Investors are turning their focus to upcoming product announcements, including an event featuring a touchscreen smart home hub, an updated HomePod mini, and an upgraded Apple TV 4K with expanded Siri artificial intelligence capabilities. Apple is also adding AI health insights, a longevity dashboard, and direct lab-test ordering to its Health app.
Key points
- Apple's global smartphone market share grew to 22% in the third quarter despite a decline in total global shipments.
- Strong iPhone 18 Pro sales in India and China lifted market share, though total China shipments dropped 4.3% on fewer model releases.
- Wall Street firms maintained Buy and Overweight ratings with price targets of $360 and $370 for Apple stock.
- Upcoming product reveals include smart home hardware with deeper Siri AI integration and updated health app features.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
What is Apple's current global smartphone market share?
Apple's global smartphone market share rose to 22% in the third quarter, driven by strong demand for the iPhone 18 Pro in China and India.
Why did Apple's iPhone shipments in China decline?
China shipments dropped 4.3% year-over-year because Apple released fewer total models this year, even though new individual models sold better than expected.
What are analysts' current price targets for Apple stock?
Analysts set price targets of $360 and $370 for Apple, maintaining Overweight and Buy ratings based on higher average selling prices offsetting lower unit volumes.