Editing Apple Inc. (section)

=== Challenges and Market Headwinds   ===
Despite its successes, Apple faced significant challenges in 2018. Supply chain disruptions, including shortages of NAND memory and OLED panels, impacted iPhone X production and led to revised revenue forecasts.<ref>{{cite web |url=https://sourcetoday.com/supply-chain/article/21866944/how-apples-new-phones-may-impact-the-component-supply-chain |quote=Apple faced shortages of NAND memory and OLED panels for the iPhone X in 2018 due to supply chain disruptions. }}</ref> These issues were compounded by underinvestment in factory equipment and broader geopolitical factors, such as trade tensions and natural disasters.<ref>{{cite web |url=https://retronix.com/electronic-component-shortage/ |quote=Apple's supply chain disruptions in 2018 were caused by semiconductor shortages, natural disasters, and geopolitical factors. }}</ref>  

Market saturation in the smartphone industry also limited growth opportunities, as consumer demand for premium devices began to plateau. On the competitive front, Huawei surpassed Apple to become the second-largest smartphone manufacturer globally, intensifying competition in the premium segment.<ref>{{cite web |url=https://canvasbusinessmodel.com/blogs/competitors/apple-competitive-landscape |quote=Apple operates in a highly competitive market with rivals like Samsung, Google, and Huawei constantly innovating and releasing new products. }}</ref><ref>{{cite web |url=https://www.theguardian.com/technology/2018/aug/01/huawei-beats-apple-smartphone-manufacturer-samsung-iphone |quote=Huawei surpassed Apple to become the second-largest smartphone manufacturer globally in 2018. }}</ref> Regulatory scrutiny added further complexity, with antitrust investigations by the U.S. Department of Justice and the European Commission, alongside the implementation of GDPR, which required Apple to adapt its data privacy practices.<ref>{{cite web |url=https://www.techpolicy.press/under-pressure-antitrust-and-competition-authorities-are-now-focusing-on-apple/ |quote=Apple faced heightened regulatory scrutiny in 2018, including antitrust investigations by the DOJ and European Commission. }}</ref>  

Despite these headwinds, Apple demonstrated resilience. Its record stock buyback programme, which reduced the number of shares outstanding, boosted earnings per share (EPS) and shareholder value, helping the company achieve its $1 trillion valuation.<ref>{{cite web |url=https://www.forbes.com/sites/investor-hub/article/is-apple-stock-buy-after-record-buyback-announcement/ |quote=Apple's record stock buyback program in 2018 played a key role in achieving its $1 trillion valuation. }}</ref>