Apple, one of the top-grossing smartphone companies, could become the largest smartphone maker in the world. This comes after prominent Apple analyst Ming-Chi Kuo predicted a potential rebound in Apple stock ahead of September’s product announcements.
TF International Securities analyst Ko said Apple could regain its position as the world’s largest smartphone brand by 2023-2024.
Kuo said Apple’s target for iPhone shipments in 2024 is an ambitious target of 250 million units. He expects iPhone sales to grow 5 to 10 percent year over year in 2024.
He believes that Apple’s more aggressive growth forecasts compared to Samsung’s more conservative forecasts will continue Apple’s dominance of the smartphone market. Samsung’s smartphone sales fell to 220 million units this year.
Ku further explained that if Apple manages to maintain the current level of iPhone orders in the second half of 2024, Apple can sell between 220 and 225 million units in 2023, overtaking Samsung as number one.
It is said that it is probably a smartphone manufacturer. This expected shift in shipping ranking is expected to benefit the Apple ecosystem in the long run.
Responding to concerns that supply chain issues could impact iPhone 15 shipments, Kuo said mass production of the iPhone 15 Pro Max will begin soon and Apple will also ramp up shipments of older models.
Kuo also pointed out that the market’s overly negative forecast for the iPhone release in the second half of 2024 has caused Apple’s share price to fall.
However, he believes that Apple stock has a chance to bounce back with the impending release of the iPhone in the near future. Aggressive business stance towards iPhone 15 series and new product launches.
Meanwhile, the California-based tech company plans to unveil the iPhone 15 series and Apple Watch 9 series at a major event next month. Apple is also expected to launch an M3-equipped MacBook in October.