Canaccord Genuity analyst Michael Walkley did his monthly store survey, with results showing that the Galaxy S4 topped sales of the iPhone. Samsung also lowered prices on the S III and Note II to capture market share away from its fierce rival. "While we believe Samsung and Apple maintained dominant share of the U.S. smartphone market versus sub-scale Android OEMs and struggling Windows Phone and BlackBerry ecosystems, we believe Samsung, on the strength of strong Galaxy S4, S III, and Note II sales surpassed Apple to gain top share of the U.S. smartphone market for the first time since the iPhone 5 launch," Walkley wrote in his note. He rates Apple shares "buy" with a $560 price target.
Apple is expected to announce a new iPhone later this year, as it seeks to recapture the minds of not only consumers, but investors.
If this is indeed true, Samsung, which licenses Google's (GOOG) Android operating system, would have the top-selling smartphone for the first time in nearly a year. The iPhone 5, which was released in September 2012, held the top spot at Verizon (VZ), Sprint (S) and T-Mobile (TMUS), and the second spot at AT&T (T).It is interesting to note that research firm comScore said Apple held the top spot in April in the U.S., owning 39.2% of the market, up from 37.8% in January. Samsung had 22% of the market, up from 21.4% in January. Even as Apple increased market share during the timeframe, Android still continues to remain the dominant operating system domestically. Android had 52% of the market in April, compared to 52.3% in January. The 39.2% for Apple's iOS was good for a jump of 1.4%, most of which came at the expense of BlackBerry (BBRY), which lost 0.8% in market share. Apple shares were lower in Wednesday trading, off 0.86% to $445.43. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV