Apple's global iPhone shipments rose 1.5% in Q2 2025, per IDC, with emerging markets driving growth as China sales dipped 1%. Despite top spot in China's 618 sale, demand lagged amid AI feature delays. Foxconn has started trial iPhone 17 production in India. Apple shares are down 16.7% YTD, underperforming the broader S&P 500, which is up 6.6%.