Apple Tops Smartphone Market as Stock Rebounds During Market Turmoil

Shares of Apple demonstrated notable resilience during the recent market turmoil triggered by the Iran conflict, recovering most of their earlier losses by the end of trading during the week ending in April 10. 

The stock closed Friday near a weekly high of $260.5, rebounding sharply from a recent low of $245, reached less than two weeks earlier. The recovery brings the stock closer to erasing losses from its peak of $288, recorded just before the outbreak of geopolitical tensions in early March.

At the onset of the conflict on March 2, Apple shares were trading near $266 when global markets were gripped by risk aversion. Investors fled toward traditional safe-haven assets, while equities, particularly those exposed to global supply chains, came under pressure.

Separate data from Counterpoint Research showed that Apple ranked first globally in smartphone shipments during the first quarter of 2026, achieving 5% year-on-year growth despite an overall 6% decline in global shipments due to memory component shortages.

The company captured a 21% global market share, marking the first time it has led the market in the first quarter, supported by its premium brand positioning, integrated supply chain, and strong performance in China.

Notably, Apple recorded a 23% increase in smartphone sales in China during the first 9 months of the year, signaling upward demand in one of its most important market.

Apple was directly impacted by concerns over supply chain disruptions, rising shipping and logistics costs fueled by higher energy prices, and fears of stagflation weakening global consumer demand. Additional headwinds included speculation around imposing new tarrifs, and slowing demand in the Chinese market, which led to breaking levels of major support for the stock. 

The inflection point came on March 30, when the stock bottomed at $245. Despite the negative macro backdrop, Apple reported stronger-than-expected first-quarter earnings, providing a critical boost to investor confidence.

Momentum shifted further in early April as attention moved away from geopolitics toward technology-driven catalysts. Markets responded positively to confirmation of the company’s upcoming Apple Intelligence system, alongside details of next-generation Mac devices powered by advanced M5 processors.

Reports of a new, more affordable “MacBook Neo” aimed at expanding Apple’s consumer base also contributed to renewed investor interest.

Analysts at Morgan Stanley highlighted that the stock’s ability to hold above long-term moving averages signals strong institutional confidence, suggesting Apple has effectively leveraged crises to prove the strengh of its business model.

Investor focus is now shifting toward Apple’s upcoming developer conference, where expectations are high for a deeper push into generative artificial intelligence, a potential catalyst that could drive the stock beyond the $289 threshold for the first time.