Apple Inc Shares Rise 2% as China iPhone Shipments Surge 20% in Q1

Apple Inc shares climbed about 2% to $264.92 in premarket after Counterpoint Research reported a 20% year-over-year surge in iPhone shipments in China during Q1 2026, the fastest growth among major vendors despite a 4% overall smartphone market decline. Initial reports highlighted Apple's 19% market share behind Huawei's 20%, with Xiaomi plunging 35%, while later updates emphasized iPhone 17 strength, promotions, subsidies, and resilience to rising chip costs. Analysts project a 9% full-year China market drop but see Apple faring better, bolstering revenue outlook and investor sentiment amid sector headwinds.