For the last few years, there have really only been two choices in the mobile device market: iOS or Android. And while there have been many Android devices, for most, there’s really only one: Samsung (GB:SMSD). Now, Samsung has outstripped tech titan Apple (NASDAQ:AAPL) to take over as the number one device seller in the world. Despite this win, though, Samsung shares are down modestly in Monday afternoon’s trading.
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As it turns out, the losses Apple has sustained in China dragged on its overall sales sufficiently to lower the numbers behind Samsung, which actually reasserts a natural order that was in place until 2023’s end. Samsung had actually held the top slot for 12 years prior. Moreover, Samsung pulled off this coup amid expansions in the market, as global smartphone shipments were up 8% in the January-March period.
Building on Its Wins
Speaking here as a Samsung Galaxy user myself, I’m not surprised. Samsung products have delivered excellent results in my own experience, and they’re looking to do more. In fact, Samsung is already planning a production expansion and has landed $6.4 billion from the U.S. government to augment its operations in Texas.
That $6.4 billion will add to Samsung’s own investment, bringing the total that Samsung plans to put into Texas chipmaking to around $45 billion. That will include a second chip-making plant and some research and development facilities.
Is Apple a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 16 Buys, 10 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 6.7% rally in its share price over the past year, the average AAPL price target of $202.76 per share implies 15.62% upside potential.
