Apple Reports Record iPhone Shipments in Q3 2024

Apple achieved a record-high third-quarter iPhone sales volume in Q3 2024, closely competing with Samsung for market leadership, both holding 18% market share. The success is attributed to the strong demand for the iPhone 15 series and Apple's legacy models, aided by a shift towards premium devices as consumers refresh their technology post-pandemic. Despite facing challenges in Asian markets, including declining sales in China and potential regulatory issues in Indonesia, analysts predict that the iPhone 16 will bolster Apple's performance into 2025. This growth has positively impacted Apple's stock, which reached a record $237.49, solidifying its position as the world's largest company with a market valuation exceeding $3.6 trillion. The overall global smartphone market has seen a 5% year-over-year growth, marking the fourth consecutive quarter of improvement. Analysts believe that Apple's stronghold in North America and Europe will continue to support its momentum.