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Apple Inc Remains No. 1 in U.S. Smart Phone Market, Continues Race to $700 in 2014

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By Reissa Su | December 9, 2013 7:36 PM EST

While Android devices make up most of the world's smart phone market share, Apple Inc has increased its lead in the United States based on recent figures by comScore. According to the report, Apple Inc continues to dominate the smart phone market in the U.S. with 40.6 per cent.

The comScore report covered data from three months ending in October. In the quarter ending July, Apple had a market share of 40.4 per cent. Meanwhile, rival Samsung Electronics has also increased its market share with 25.4 per cent from the previous 24.1 per cent share in July.

However, despite dominating in the U.S. in terms of smart phone market share, the Android OS retains its popularity in the country with a 52.2 per cent share in terms of smart phone platform. Apple's iOS held 40.4 per cent of the platform market.

While Samsung is a popular Android device manufacturer, it is not the only one selling Android phones. This explains why its smart phone market share is not the same with the Android share.

Blackberry Ltd is losing ground in the U.S. with 3.8 per cent of platform share. The Blackberry phones did not even make it to the top five smart phones in the U.S. market.

Microsoft's Windows Phone OS continues to rise with 3.2 per cent. It may not be enough to overtake Blackberry but Windows Phone is close to beating Blackberry OS.

Back on track for $700 goal?

As Apple Inc continues to look forward to higher sales for the new versions of the iPhone and iPads in the holiday quarter, the company's stocks may be on its way to reaching $700 in 2014. Hailed the world's most valuable company by Forbes, Apple Inc's stock price is still 25 per cent less of its highest value at $705 in 2012.

Apple Inc's shares are currently above the $500 mark. The release of the iPhone 5S, iPhone 5C,iPad Air, iPad mini with Retina display is expected to fuel Apple's sales performance in international markets like China and Japan. If Apple continues to perform well in terms of revenue, investors may start looking at Apple as a hot stock in the market.

Another factor for Apple Inc to breach $700 is stakeholder and billionaire activist Carl Icahn. Analysts expect Mr Icahn to push Apple to create shareholder value using buybacks or special dividend payouts.

Billionaire activist investor Carl Icahn has reportedly submitted a proposal for Apple Inc to buy back $50 billion worth of stocks. According to CNBC, a source said Mr Icahn will present the stock buyback proposal during Apple's annual shareholders meeting.

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