Apple (AAPL) Hits $9B in India Sales — Is This Just the Beginning?

Apple hit record India sales of $9B in FY2025, up 13%, driven by iPhone and MacBook demand.

Apple Inc. (AAPL) has reached a new milestone in India, with annual sales hitting nearly $9 billion for the fiscal year ended March 2025, up 13% from $8 billion the previous year, according to a Bloomberg report. The increase was driven mainly by strong demand for iPhones. MacBook demand also picked up, adding to momentum.

The results show India is becoming a key market at a time when Apple faces slowing smartphone demand in other regions.

Retail Push Gains Traction

Apple has been growing its retail network in India. The company opened new stores in Bangalore and Pune this week and has more outlets planned for Noida and Mumbai next year.

Since its first flagship stores in Mumbai and New Delhi opened in 2023, Apple has used trade-in offers, student discounts, and bank rebates to offset India’s higher iPhone prices. These steps have helped Apple attract more middle-class buyers.

India Becomes Key Production Hub

India is not only an important market but also a crucial part of Apple’s supply chain. About 20% of iPhones are made there, across five factories, including two that opened recently.

This move helps Apple reduce its reliance on China, where growth has slowed and competition from local brands like Xiaomi (XIACF) and Huawei has increased. Revenue from China rose 4.4% in the June quarter — its first increase in two years — but Apple has continued to lose market share to local rivals.

According to Main Street Data, Apple’s regional mix remains heavily skewed toward the Americas at $41.2B and Europe at $24.0B, while Greater China contributed $15.4B, the Rest of Asia Pacific $7.7B, and Japan $5.8B.

What It Means for Apple Stock

Though India still makes up only a small part of Apple’s global business, the growth trend is clear.

With rising incomes, a young customer base, and more local production, Apple seems to be building both supply and demand in one of the world’s fastest-growing markets.

Is AAPL a Good Stock to Buy?  

On TipRanks, AAPL stock has a Moderate Buy consensus rating based on 15 Buys, 12 Holds, and one Sell rating. The average Apple price target of $238.15 implies 0.68% downside potential from current levels. Year-to-date, AAPL stock has lost nearly 3.9%.

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