Analysts flashed a red flag regarding lukewarm preorders for Apple, Inc.‘s AAPL newest iPhone iteration, but one analyst doubled down on his bullish take on iPhone 16 as it went on sale this weekend.
Apple's first AI-equipped iPhone is hitting shelves. However, it's unclear how many consumers will go for upgrades.
Apple Inc.'s iPhone 16 isn't aimed at loyalists who upgrade annually, Bloomberg's Mark Gurman says. With the AI features not yet available, the phone relies on new hardware to attract new customers, such as owners of older iPhones or those switching from other brands, Gurman reports in this week's Power On.
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Sales of the new Apple (NASDAQ: AAPL) iPhone 16 may be slow.
Reports that initial sales of Apple's latest iPhone are lower than last year led to a stock price pullback. A big installed base of users and the secular growth of the generative AI smartphone market should help Apple stock recover.
New iPhones are often panned. Six months later, Apple's stock is routinely higher.
The stock market, including the Dow Jones, rose for the week. PCE inflation data and some earnings reports are due in the coming week.
Apple's (AAPL) newest iPhone lineup is now in stores. However, the release of the iPhone 16 comes without the tech giant's AI features — dubbed Apple Intelligence — which is slated for an October rollout.
Apple's (AAPL) newest iPhone lineup is now in stores. However, the release of the iPhone 16 comes without the tech giant's AI features — dubbed Apple Intelligence — which is slated for an October rollout.