The headlines certainly seem alarming. Reports are coming out showing that iPhone sales fell 10% year over year in 2024's first quarter. The setback was so stark, in fact, that (NASDAQ: AAPL) lost the top spot in the world's smartphone market share race that it held just a quarter earlier!

As is too often the case, though, such headlines fail to include a great deal of important context. Here's the rest of what you need to know about this week's news before deciding whether you need to dump your stake in Apple stock.

The data comes from technology market research outfit IDC. In its most recent look at worldwide smartphone shipments, it reported that Apple delivered 50.1 million iPhones during the three months ending in March. That's 10 million fewer than the number Samsung (OTC: SSNL.F) delivered in the same quarter. That's also a marked difference from the final quarter of last year when 80.5 million iPhones were shipped versus Samsung's count of 53 million.

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Source Fool.com