** Apple shares drop 1.2% to $174.38 premarket, bucking strength in other megacap tech peers
** Research firm IDC data showed AAPL's smartphone shipments dropped ~10% in Q1 2024, hurt by intensifying competition by Android smartphone makers
** With a 17.3% market share, AAPL loses top spot to Samsung
, which was at 20.8% in Jan-Mar quarter; China's Xiaomi third with 14.1% market share
** AAPL had overtaken Samsung in December quarter
** Drop underscores AAPL's challenges in third biggest market, as some Chinese companies and government agencies limit employees' use of co's devices
** AAPL shares down ~8% YTD, as of last close, vs tech-heavy Nasdaq's ~8% advance
** AAPL only YTD decliner among major tech giants, including Alphabet , Nvidia , Meta Platforms , Amazon , Microsoft , up between 12.2%-44.6%
(Reporting by Ankika Biswas in Bengaluru)
((Ankika.Biswas@thomsonreuters.com))
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