Apple's recent struggles in the global smartphone market have been highlighted by a 5% decline in iPhone sales during the final quarter of 2024. This downturn is largely attributed to intensified competition from Chinese manufacturers and a delayed rollout of new AI features in China, Apple's largest market outside the U.S. The company's market share for iPhones fell to 18% last year, as Chinese Android device makers like Xiaomi and Vivo continue to gain traction. Despite these challenges, Apple's premium models, such as the Pro and Pro Max, have seen increased demand, indicating a strong consumer preference for high-end products in China.
The Direxion Daily AAPL Bull 1.5X Shares (AAPU) ETF experienced a decline, closing at $32.83, down 2.18% from its previous close of $33.56, as of 5:00 PM on Monday, January 13.