A new report has underlined that Apple is likely to end the year with a record 8-9 million iPhone shipments, versus 6.7 million in 2022. In the first half of the calendar year, sales have almost doubled to about 4 million from the year-ago period, according to a report in The Economic Times.

The report, citing Counterpoint Research and IDC, revealed that iPhone shipments for the year are likely to be at around 8-9 million. It further added that market trackers expect Apple to attain its best ever market share of 6-7 per cent by the end of this year.

Apple’s market value briefly peaked above $3 trillion in intra-day trading on Jan 3, 2022, before closing the session just below that mark.

The gains in Apple shares come as technology stocks rebound on bets that the Federal Reserve may be slowing its pace of interest rate hikes as well as on the buzz around artificial intelligence.

Apple’s less-than-expected fall in sales in its most recent quarterly report has highlighted the tech giant’s resiliency in an uncertain economy and reinforced its reputation among investors.