Apple’s riding a growth wave this quarter, posting its strongest June performance in five years by holding iPhone prices steady while rivals raised theirs—boosting shipments 3% and capturing more market share. Though iPads and MacBooks saw price hikes to offset chip shortages fueled by AI demand, the iPhone’s pricing stability clearly resonated with consumers. The strategy’s paying off: Apple’s stock surged, hitting a record $5 trillion market cap, and analysts credit the company for wisely avoiding the AI spending frenzy that’s hurt rivals like Alphabet. While next-gen iPhone prices are expected to rise in September—and Apple One and Apple Music subscriptions already got pricier—their ecosystem’s sticky demand means even modest hikes won’t dent sales, especially as competitors struggle with supply.

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