Though the iPhone is just 20 percent of the overall smartphone market, Apple's handset accounted for a colossal 92 percent of the industry's operating income during the March quarter, according to new research.
During the June quarter the iPhone 6 and 6 Plus kept the iPhone the top-selling smartphone brand at all four major U.S. carriers, with a sell-through share of almost 50 percent, according to survey data published on Wednesday.
Apple's domination in the smartphone market compelled Canaccord Genuity to raise its price target on Apple stock to $145 on Monday, advising investors to buy in on the continued strength of the new iPhone 6, which decimated profits for competitors last quarter.
Investment firm Canaccord Genuity raised its price target on shares of Apple to $135 on Tuesday, citing its latest survey showing supply constraints for the higher-capacity iPhone 6 and iPhone 6 Plus, signaling higher average selling prices and greater profits for the company's handset division.
A new analysis of third-quarter handset industry operating profits estimates that Apple accounted for a massive 86 percent share, blowing away the competition as rivals such as Samsung saw their profit levels dip.
Apple remained by far the most profitable mobile phone maker in the just-concluded March quarter with 65 percent of value, while all other competitors except Samsung either lost money or broke even, the latest research shows.
With its price target at risk of falling below the company's actual trading share price, Canaccord Genuity on Thursday updated its forecast for Apple stock to $660, and revealed the results of a new survey that found the iPhone 5s is the most popular handset at all four major U.S. carriers.
Total iOS device sales may have reached 80 million units in the just-concluded December quarter, driven by particularly strong demand for the new iPhone 5s and iPad Air, sales surveys conducted by Canaccord Genuity suggest.
Apple continues to dominate smartphone sales with their flagship iPhone 5s and mid-range iPhone 5c as the handsets took two of the top three sales slots at every major U.S. wireless carrier for the third month in a row.
The mobile market continues to be a two-horse race for profitability between Apple and Samsung, with the two rivals commanding 109 percent of profits — a number made possible because its competitors are actually losing money in the smartphone space.
Apple remains the most profitable company in the smartphone industry, though its lead over rival Samsung is shrinking, as just 3 percentage points separated the two companies during the second quarter of calendar 2013.
While Samsung's latest flagship smartphone, the Galaxy S4, unsurprisingly took the top spot at three of the four major U.S. carriers' stores in the month of May, Apple's eight-month-old iPhone 5 still remained the most popular smartphone at AT&T retail.