Apple stock down 3% as it loses top spot in China sales
Apple dropped sharply today, down more than 3% as a report noted that the company has been dethroned as the top smartphone seller in China. Year to date, the stock’s down about 8%.
A report from Canalys said that Apple fell behind Chinese smartphone makers Vivo and Huawei, dipping to the No. 3 spot with 15% of the market. According to the analysis, Apple shipped 285 million phones in China, recovering from two consecutive years of decline, with growth of 4% year over year.
If January ended today, this would be Apple’s worst month since September 2023 — the month before the S&P 500’s bull market began.
