Apple's Market Share Soars in India, Analysts Predict Massive Upside

Apple is gaining market share in India, with a 50% year-over-year growth in Q2 2023, according to Counterpoint Research data. The company's premium status and the availability of finance options are attracting customers who seek a superior experience. A recent Morgan Stanley analysis predicts a massive upside for Apple in India, forecasting the country to account for 15% of Apple's revenue growth and 20% of installed base growth over the next 5 years. With a growing middle class and favorable macro backdrop, Apple is expanding its presence in India, including local manufacturing.