India: In the wake of a recent report by Counterpoint Research and IDC, tech giant Apple is poised to conclude the year with an unprecedented 8-9 million iPhone shipments, a substantial increase from the 6.7 million units in the previous year (2022). The first half of this calendar year has already shown remarkable growth, with sales nearly doubling to approximately 4 million compared to the same period last year.
According to market trackers, Apple is expected to secure its highest-ever market share, reaching an impressive 6-7 percent by the end of the year. The upcoming festive season, coupled with the launch of the much-anticipated iPhone 15, is predicted to drive further sales through attractive discounts and wider product availability. Notably, last year’s sales saw a significant surge during the third and fourth quarters, and experts believe that this trend is likely to repeat this year.
Adding to Apple’s success, on June 30, its market capitalization soared past the $3 trillion milestone for the first time since January last year. Investors remain confident in the company’s ability to sustain revenue growth, especially as Apple ventures into new markets like virtual reality.
The recent upswing in Apple’s market value comes amidst a broader recovery in technology stocks, prompted by speculation that the Federal Reserve may slow its pace of interest rate hikes and the excitement surrounding artificial intelligence.
Additionally, Apple’s resilience in the face of an uncertain economy, evident in its less-than-expected sales dip in the latest quarterly report, has further solidified its reputation among investors. The company’s adaptability and strong performance continue to inspire confidence and maintain its position as a leading player in the tech industry.
