Apple Inc's market share in the U.S. has been the key driver of the company's success despite the growing competition led by Samsung Electronics. Although Samsung is gaining market share in the U.S., its gains are not the same with Apple Inc.

According to a new report from NPD, iPhone ownership in the U.S. has increased to 42 per cent in the fourth quarter of 2013. It has increased significantly from 35 per cent during the same quarter of 2012. Apple Inc has gained 7 percentage points, a higher advantage compared to Samsung's 4 per cent growth in the same period.

The only other smart phone manufacturer that gained market share in the U.S. on a year over year basis is LG. However, the company only received a small gain. The rest of the top manufacturers experienced a decline in market share based on the NPD report.

ComScore had released a report which revealed that Apple Inc had a 40.6 per cent share in December. Samsung remained in second place at 24.1 per cent based on installed base of smart phones in the U.S.

Apple's latest iPhone version, the iPhone 5S, was warmly received by U.S. smart phone owners. According to a report by research firm CIRP, Apple's iPhone 5S has grabbed the biggest share in sales in the U.S. market. The availability of the iPhone 5S has convinced buyers to stay away from the lower-priced iPhone 5C and 4S.

On Jan. 14, CIRP reported that the iPhone 5S took the largest share of iPhone sales at 59 per cent in the last quarter of 2013. The iPhone 5C comprised 27 per cent of sales while the iPhone 4S had 14 per cent.

Apple stock may reach $1000

While Apple Inc and its CEO Tim Cook are looking forward to "big plans" in 2014, analysts have speculated that the company's stock could reach $1000 after hitting the $705 mark in September 2012. Since hitting that all-time high, the Cupertino-based tech giant has lost steam. Since the release of its latest products in 2013, Apple may be steadily approaching a high stock price that may surpass the record-breaking $705 per share.

Money Morning analyst Michael Robinson believes Apple Inc may reach $1000 per share in two years. Some analysts have previously predicted the company may hit the 4-digit mark by the end of 2014.

Mr Robinson said Apple Inc has become great in cross-selling and upselling its products. He believes Apple will use its iPhones to penetrate China and grow its market share. After introducing the iPhones, Apple will then push the iPads, Mac Books, Mac Pros, Apple TV and iTunes to Chinese customers, according to Mr Robinson.

Apple Inc began the year with the opening of its official store on Tmall, a popular online marketplace owned by Chinese e-commerce company Alibaba. Tmall was launched in 2008 with 70,000 merchants and brands on board which included Gap Inc and Nike Inc. According to Bloomberg, Apple Inc will soon open another store in mainland China. Apple CEO Tim Cook is planning to open 22 retail stores in greater China.