September 16, 2024

On Monday, Apple’s stock witnessed a drop of 3.3% largely due to information that reported a weaker
than expected demand for the iPhone 16. iPhone 16 reported sales are 12% less than the sales of iPhone
15 in first week of launch. The lack of interest is especially for the iPhone 16 Pro model and is explained
by the unforthcoming release of Apple Intelligence and rivalry from local players in China.

The iPhone 16 could be ordered at the end of last week and it will officially be on sale starting on
September 20. Analyst from institutions like Barclays, JP Morgan and Bank of America has explained the
watered-down shipping timeframes even for the Pro models which have a long lead time that indicates
weak orders compared to the previous year. Barclays’ analysts have pointed out that pre-order figures
in China fell short of year-on-year growth and that the lack of an Apple Intelligence Chinese version until
2025 will be a dampener.

Furthermore, the company cut down iPhone 16 rates in countries like Australia and India. The cost of
the iPhone 16 Pro starts at $999 and the Pro Max at $1199 with new screens, new cameras, “thinnest
borders to any product from Apple,” longer battery life are available but specific details are not
released.