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Some key sales numbers emerged today for Apple (NASDAQ:AAPL), the tech giant that has a stranglehold on the mobile device market. However, that hold is nowhere near as complete as some might like, and shareholders punished the lack of conviction with a fractional downturn in Apple shares in Monday afternoon's trading. First, there's the good news out from Canalys, who revealed that Apple is still at the top of the heap when it comes to tablets. Yes, the overall tablet market took a hit—Apple's shipments were down 13.9% against the first quarter of 2023. However, that proved enough for Apple to sell 12 million units and seize the top slot in overall worldwide tablet sales. 2023 was actually the first year since 2010 that featured no new iPad models, which apparently was enough to spark some sales since the fear of missing out was no longer a factor. And that brings us to the second point: Apple is well-represented among the top 10 brands in smartphones worldwide. In fact, iPhones occupied the top four spots in the Counterpoint Research Global Monthly Handset Model Sales Tracker, with the iPhone 15 Pro Max taking the top slot. With that slot came 4.4% of the total global smartphone market, which means roughly two out of every 50 smartphones sold was an iPhone 15 Pro Max. Most of the bottom six of the top 10, meanwhile, went to Apple's biggest immediate competitor, Samsung (OTHEROTC:SSNLF), who saw its Galaxy S24 Ultra take the number five slot. Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 19 Buys, 12 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 5.55% rally in its share price over the past year, the average AAPL price target of $205.09 per share implies 12.79% upside potential. DisclosureEven the Bad News Wasn't That Bad
Is Apple a Buy, Hold, or Sell?
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