close
close

Apple shares slide as reports suggest subdued demand for iPhone 16

Apple setzt darauf, dass seine hauseigene künstliche Intelligenz, die sogenannte Apple Intelligence, die weltweite Nachfrage nach iPhones wiederbeleben wird. <p>NurPhoto/Getty Images</p> <p>” data-src=”https://s.yimg.com/ny/api/res/1.2/FlPO2gfvOBEQ_idWSFh_Ew–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA–/https://media.zenfs.com/en/thestreet_881/9eaa248a01f1b85b4352ac d43a7e3f12″/></p> </div> </div> </div> <div class=
Apple is betting that its proprietary artificial intelligence, known as Apple Intelligence, will revive global demand for the iPhone.

NurFoto/Getty Images

The investment bank said delivery times for pre-orders of the new iPhone 16 were shorter than those for the iPhone 15 launch last year, indicating a balance of supplies that had not been tested by a surge in demand.

“Notably, iPhone 16 delivery times are, on average, one week shorter than on the first day of iPhone 15 pre-orders,” Citi analysts wrote.

Related: Huawei responds to Apple's iPhone 16 with the first triple-folding phone

“Lead times are longest for the Pro Max models, followed by the Pro, and consumers are opting for larger storage options, with the 256GB and 512GB models having longer lead times,” Citi added, calling this move toward higher-end models a “premiumization trend.”

Analysts at Jefferies also observed weak consumer interest, especially in the US, and noted that some iPhone 16 models were available for pickup in stores almost immediately.

Decline in demand for iPhone 16

Meanwhile, Taiwan-based Apple analyst Ming-Chi Kuo reported that Apple sold an estimated 37 million new iPhone 16 units during its opening weekend, down about 12.7% from the first few days after the iPhone 15's launch last year.

Demand for the new iPhone series could prove critical to the broader AI investment thesis, as Apple is seen as the best-positioned technology group to deliver the new technology at the consumer level across its 1.4 billion user base.

Related topics: Analyst reviews price target for Apple shares after launch of iPhone 16

In addition, the company wants to stimulate interest in the iPhone, which accounts for about half of the company's annual revenue after a long period of declining sales.

Other AI stocks:

In the three months to June, iPhone revenue fell 1% year-on-year to $39.3 billion, while sales in China fell 6.5% to $14.73 billion.

Apple shares fell 2.6 percent in premarket trading, opening at $217.70. Such a rise would extend the stock's month-long decline to about 3.6 percent.

Related topics: Experienced fund manager sees a serious crisis for stocks looming

You may also like...