Apple share price jumps 7% on tariff exemption, iPhone shipments up 10% in Q1 to clinch top spot globally
Apple Inc.’s iPhone unit shipments surged 10% in the first quarter as part of an effort to accelerate deliveries and avoid expected tariffs on China, according to industry tracker IDC.
The company shipped 57.9 million units during from the beginning of January through March, a rise from the 52.6 million units it delivered in the same period a year ago. The uptick isn’t necessarily because of a sudden gain in demand: IDC says the increase is due to a stockpiling effort meant to offset tariffs on goods exported from China to the US.
Apple took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16e’s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday.
Apple had 19% of the smartphone market, despite flat or declining sales in the U.S., Europe and China, followed by Samsung with 18% of the market, according to Counterpoint.
The data suggests iPhone demand remains strong in emerging markets, even as sales struggle in China due to competition from local players such as Huawei and a lack of AI features.
Separately, International Data Corporation, which primarily tracks shipments rather than sales to consumers, said global smartphone shipments rose 1.5% in the first quarter, with Apple front-loading supply to sidestep potential tariffs under U.S. President Donald Trump.
Apple’s shares were up around 3.5%.
Trump’s back-and-forth tariffs and escalation of global trade tensions has resulted in global financial market turmoil for the past two weeks, a worsening economic outlook and the possibility of stronger inflation.
Apple had chartered cargo flights to ferry 600 tons of iPhones, or as many as 1.5 million, to the United States from India in an effort to beat the tariffs.
However, Trump’s decision to exclude smartphones, computers and some other electronics from the sweeping reciprocal duties on China led to a rise in global tech shares on Monday.
An unidentified options trader’s multi-million dollar bet on a short-term rebound in Apple Inc.’s shares was set to reap a sizable profit as the iPhone-maker’s shares soared on Monday following the Trump administration’s weekend move to grant tariff exclusions for smartphones.
On Monday, Apple shares rose as much as 7% to a high of $212.94 before paring gains to trade up 4.5% at $206.05, after the Trump administration, late on Friday, granted exclusions from the steep reciprocal tariffs on smartphones and a set of other electronics products, a move seen as a big break for technology firms such as Apple that rely on imports from China.
The jump in Apple’s share price means a bullish options trade opened Friday for about $5 million was, on paper, valued at about $14 million early on Monday, a gain of 180%, according to a Reuters calculation.
Apple shares tumbled as much as 23% in the days following the tariff announcement amid a market-wide selloff as investors fretted over the business impact from the tariffs on China, a major production hub for iPhones.
The shares recovered ground late last week as markets rebounded and investors grew more optimistic about Apple securing an exemption from tariffs.
