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There's something about the prospect of paying more that gets people to open their wallets. Apple Inc. (AAPL) is seeing that play out in real time, as global iPhone shipments jumped 13% year-over-year in the second quarter of 2026, according to a Wednesday report from Counterpoint Research.
The iPhone 17 series did a lot of the heavy lifting, but the growth wasn't just about a new gadget. Stable pricing and Apple's push to grab more smartphone market share also helped move the needle.
Apple outpaced the broader Chinese smartphone market, with iPhone shipments rising 23% from a year earlier. Counterpoint noted that Android manufacturers raised prices because of higher component costs, while Apple held the line on iPhone pricing. That contrast, plus expectations for price increases in the third quarter, prompted some consumers to buy earlier rather than wait.
Europe delivered 22% shipment growth, with the same dynamic at play: potential price hikes encouraged customers to bring forward their purchases.
South Korea posted Apple's strongest growth among major markets, with shipments jumping 35%. Promotions, stronger April and May sales, and an easier comparison with the prior year all contributed to that surge.
Back home, U.S. iPhone shipments rose 6%. Stronger carrier promotions for the iPhone 17 Pro and Pro Max helped drive demand. T-Mobile U.S. Inc. (TMUS) and AT&T Inc. (T) offered trade-in subsidies of up to $1,100, up from $1,000 a year earlier.
Japan also recorded 6% growth, supported by demand for the standard iPhone 17 and carrier upgrade offers.
But not every market was rosy. Shipments in India slipped 0.4%, as persistent supply constraints and inventory shortages limited the availability of key iPhone models across online and physical retail channels.
Apple stock was little changed in Wednesday's premarket trading, with investors staying cautious on mega-cap tech. Nasdaq futures fell 0.20%, while S&P 500 futures slipped 0.06%.
Shares are hovering near their short-term moving averages after a strong 12-month run. The question is whether Apple can regain near-term trend support or fall below a key support zone.
Right now, Apple trades 0.6% below its 20-day simple moving average of $311.50 and 0.4% below its 50-day SMA of $310.88. Those levels could act as ceilings for any near-term rebound.
The longer-term picture, though, remains positive. Apple sits 3.8% above its 100-day SMA of $298.18 and 9.8% above its 200-day SMA of $281.90. The relative strength index stands at 47.95, a neutral reading that suggests balanced momentum.
And here's a comforting technical detail: the 20-day SMA remains above the 50-day SMA, and the golden cross formed in September 2025 is still intact. That's a bullish signal for the long haul.
Key resistance sits at $335, while support stands near $300.50. The 100-day SMA could provide additional support near $298.18 if things get shaky.
AAPL Stock Price Activity: Apple shares were trading down 0.12% at $309.51 during premarket trading on Wednesday, according to market data.
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