Amidst the storm of controversy surrounding Apple in 2024, one thing is for certain – the tech giant is facing turbulent times. With a plunge in stock price and a high-stakes lawsuit accusing them of monopolistic behavior, Apple’s once unassailable position in the market is under threat.
Alphabet (GOOGL, GOOG)
Unlike Apple, Alphabet, Google’s parent company, has been making strides, with a substantial 10% growth in the first quarter of 2024. Despite temporarily slipping stock prices due to weaker ad revenue, Alphabet is exploring new avenues like putting AI services behind a paywall, a move that could give it an edge over Apple in the long run.
Samsung Electronics (SSNLF)
Samsung, the South Korean tech giant, has shown promise in Q1 2024, outperforming Apple and potentially benefiting from a more competitive smartphone market. A recent partnership with Nvidia for high-bandwidth memory chips and the unveiling of the Galaxy ring at Mobile World Congress signal a strategic push beyond traditional smartphones.
Nokia (NOK)
While Nokia may be trading at a fraction of its past glory, this Finnish firm is far from out of the race. Despite recent challenges in sales and profitability, Nokia’s unique position in the ‘dumb’ phone market and its meme stock appeal could see it defy expectations in 2024. As users gravitate towards nostalgia and simpler devices, Nokia could carve out a niche for itself.