Apple hits record high as data shows strong Q3 shipment after iPhone 16 launch
** Apple's shares AAPL.O rise as much as 2.7% to a record high of $237.49; last up ~2%
** Smartphone shipment data from research firms showed Apple saw a boost in Q3, helped by the launch of iPhone 16 and strong demand for previous models
** Apple "established itself as the biggest brand globally in September, helped by the iPhone 16 launch", Counterpoint Research says
** Adds it expects demand for iPhone 16 would remain stable, thanks to the large base of iPhone users, even as the series saw flat sales initially
** Canalys on Monday reported Apple reached a record Q3 shipment volume, powered by demand for iPhone 15 series; Apple's iPhones made up 18% of Q3 smartphone shipments, up from 17% last year
** According to IDC, which said Q3 global smartphone shipments rose 4% YOY, Apple's iPhone 15 "performed exceptionally well due to the heavy promotions and increased marketing activities around Apple Intelligence"
** Apple shipments grew 3.5% YoY in Q3, IDC said
** YTD, AAPL is up ~23%
Reporting by Deborah Sophia in Bengaluru
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