Apple Gains 50% Of US Smart Phone Revenue

By Douglas A. McIntyre Published Feb 3, 7:34AM EST

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Apple Gains 50% Of US Smart Phone Revenue — © 2023 Getty Images / Getty Images News via Getty Images

Go into a Verizon (NYSE: VZ) or AT&T (NYSE: T) store—smartphones from Samsung, Google Kyrocera, and Motorola. And the list is longer. Among all of these, half of the US smartphone revenue market share goes to Apple (NASDAQ: AAPL). The data comes from Counterpoint.

Commenting on Apple’s performance in 2023, Research Director Jeff Fieldhack noted, “Apple displaced Samsung as the biggest player in shipments for the first time in a full year. Apple does not break out iPhone sales by geography, but there are hints in its new earnings about why it does so well in the US.

Apple’s most recent quarter was the first time Apple’s top line had increased in a year. Revenue rose 2% to $119.6 billion. EPS jumped 16% to $2.18. Apple’s number of active devices used around the world hit 2.2 billion.

Apple’s America’s revenue, mostly the US, rose from $49.3 billion to $50.4 billion. iPhone revenue worldwide $65.8 billion to $69.7 billion. Anyone worried about iPhone 15 sales was wrong. Revenue from the balance of Apple’s hardware was mediocre. Only “Services” posted a strong gain, up from $20.8 billion to $23.1 billion.

Counterpoint did point out one area of concern. Apple’s revenue share is not at the level in China that it is in the US. China is highly competitive with several local companies like oppo, which have a double-digit market share of their own. Apple ships more phones in China than any other company.

The stock market shrugged off Apple’s earnings. The stock dropped less than 1%. It is approximately flat year to date. If Apple’s numbers, including its US market share, don’t impact the share price, what will? Some people think they should still short Apple’s stock.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.