Global Smartphone Shipments Plunge 20% to 14-Year Q3 Low on Memory Shortage
AAPL sits 39% above its 52-week low of $243.42.
Summary
Counterpoint Research reports global smartphone shipments fell 20% year-over-year to the lowest third-quarter level since 2012, driven by soaring memory chip costs and supply shortages. Apple's market share reached 22%, crossing 20% for the first time in a third quarter, despite a year-on-year decline in shipments. The absence of a base iPhone 18 model resulted in a smaller launch-month channel fill than the full iPhone 17 lineup a year earlier. This follows Apple's July warning of worsening component shortages and a Q4 revenue guide that missed consensus. The data confirms the memory cost pressure is hitting the entire industry, not just Apple, and suggests continued margin headwinds for the current quarter.
At the time of this announcement, AAPL was trading at $338.14 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.9T. The 52-week trading range was $243.42 to $345.34. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.