Apple Reaches Highest Q3 Sales Volume Ever
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We’ve seen all sorts of different reports on Apple (AAPL) stock and iPhone 16 sales struggles. Prior to the launch of the iPhone 16, analysts were bullish on projected iPhone 16 sales, the upgrade cycle, and, of course, Apple Intelligence.
Only a couple of weeks later, we saw AAPL lose $100 billion in market cap in a 3% share price drop following the release of the iPhone 16. Here’s where things stand today amid an ebb and flow that will undoubtedly continue to captivate both casual readers and investors alike.
According to market analysis firm Canalys, Apple is on the heels of Samsung at 18% market share, with Samsung only slightly ahead of Apple. It wasn’t necessarily the iPhone 16 that propped up Apple’s sales figures (it was released with only two weeks to go in the quarter) but continued demand for the iPhone 15 and older models. With Apple Intelligence yet to come to the iPhone 16 and other devices, hopes are still high that Apple will continue to gain ground on Samsung.
There’s more. Apple (AAPL) hit an all-time record high this week, reaching $237.49, up from closing at $216.01 only a month ago on September 17. Apple’s stock and sales remain strong, even in the face of major challenges like struggling sales in China, especially after the Chinese government banned its workers from having iPhones. Further complicating Apple’s success in China is the country’s ban on ChatGPT, the AI behind Apple Intelligence, so Apple is looking for an AI partner specifically for the Chinese market.
Apple also faces a hurdle in Indonesia, which has presently banned the sale of the iPhone 16 until Apple meets certain investment obligations and commitments to local content (specifically, called TKDN certification).
Finally, there’s the European Union. Thanks to the Digital Markets Act (DMA), Apple has elected to delay the launch of Apple Intelligence in the EU. The European Commission is forcing Apple to open the iPhone and iPad up to prevent monopolistic practices. The EU represents a massive piece of Apple’s global sales (nearly one quarter), so this is one area analysts and investors will keep a close eye on.
As fascinating as Apple’s devices and operating systems are, the company’s business is equally intriguing. Market forces are always changing. So far, Apple has risen to the challenge of delivering for shareholders and customers across the globe. We’ll continue to follow this story and bring you the latest.
