Apple Inc. (NASDAQ:AAPL)’s iPhone 5S is still in the lead. A note from Cannacord Genuity analyst T. Michael Walkley showed Apple’s latest phone holds the number one position at all four major phone carriers. Samsung Galaxy S4 remains the runner up at most carriers including T-Mobile Us Inc (NYSE:PCS), Sprint Corporation (NYSE:S), and AT&T Inc. (NYSE:T). At Verizon Communications Inc. (NYSE:VZ), the HTC One M8 takes the number two position. The iPhone 5S is still in high demand compared to iPhone 5C.
Apple could lose lead to Android
Despite Apple’s current lead in the market, Walkley thinks Apple Inc. (NASDAQ:AAPL) could lose its spot next month when Android fans flock to Samsung Galaxy S5 and HTC One M8. These phones could move Apple down a few notches from the top spot. However, it is likely Apple will regain their spot in the lead with the iPhone 6. He said it is possible Apple will win back high-end market shares mainly because the purported larger screen size.
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He further explained in the note, “With our surveys indicating strong customer loyalty for the iPhone, we believe Apple could strongly benefit from a broader adoption of these early upgrade plans.Further, with these plans facilitating annual upgrades to new smartphones, we believe these plans in the coming years could in fact boost iPhone replacement sales and help Apple grow sales in the more saturated and mature developed countries that sell a greater mix of high-end smartphones.”
The future remains bright for Apple
Walkley kept the Buy rating for the company and share price target locked at $600. It is important to point out Apple Inc. (NASDAQ:AAPL) may also unveil new gadgets but that possibility doesn’t have an effect on Walkley’s rating. It’s predicted the Cupertino-based tech giant will unveil both the iWatch and mobile payments services. 2014 may be a key year for Apple and the iPhone.
Like most Apple Inc. (NASDAQ:AAPL) smartphones, the iPhone 5S is the standard of what smartphones should be. It’s not surprising to see Apple remain in the lead, even with competition from the likes of Samsung.