# Apple Gains Market Share to 22% as Analysts Raise Targets Ahead of Event

- URL: https://stocks.freetheai.org/news/apple-gains-market-share-to-22-as-analysts-raise-targets-ahead-of-event-8c8904
- Published: 2026-10-13T07:00:00Z
- Category: company_news; sentiment: mixed; impact: medium
- Symbols: [NASDAQ:AAPL](https://stocks.freetheai.org/symbols/NASDAQ-AAPL)
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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.

## Questions 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.