Apple Stock News
Apple had another successful quarter during the most recent period, as the company continues to sell the iPhone at a rapid pace. During the most recent quarter, the company sold 35% more iPhones than during the previous year, and this helped the company increase its market share during that time.
Source: Statista
The company’s market share in the smartphone market increased to 14.1%. While this market share seems pretty low, the increase is much more important considering that the iPhone receives most of the profits from the industry, as Apple is able to price its product at a premium price that loyal customers are more than willing to pay. Reports last month showed that Apple earned 92% of all profits in the industry.
While the iPhone sales were widely watched and reported on, investors were also curious about the success of the Apple Watch. While actual numbers were not reported, that has not stopped analysts from publishing their estimates. One has Apple selling 4 million devices during its first quarter on the market, which represents over three-fourths of the entire market.
Source: Statista
The success of the device in such a short time, taking over the admittedly nascent market, is even more impressive considering the wearable device was only available online. With in store sales and retailers becoming more available, sales could easily continue increasing even after the initial excitement for the new product wears off.
