Apple on Monday released iOS 18, the latest version of its software for iPhones. This is Apple's biggest iPhone update of the year, but this one doesn't include Apple Intelligence, the company's forthcoming AI system.
Apple (AAPL -3%) is experiencing a drop today after preorders for its newest iPhone models fell short of expectations. Last week, Apple introduced the iPhone 16, iPhone 16 Pro, and iPhone 16 Pro Max with minimal design changes.
Apple's launch event last week unveiled several new products, with the iPhone 16 as one of the highlights. However, investors should look beyond its hardware updates (not only with iPhones, but also with iPad, iMac, etc.) and focus more on software and subscription growth. Apple's service revenue, now its second-largest income stream, has grown impressively, with a 6.56x increase since 2013, and continues to expand.
"The key factor is the lower-than-expected demand for the iPhone 16 Pro series
Shares of Apple fell nearly 3% on Monday after several analysts said that delivery times for the new iPhone 16 Pro models indicated weaker-than-expected demand, possibly due to the delayed rollout of key artificial intelligence features.
The FDA has approved Apple's sleep apnea detection feature. Sleep apnea is a sleep disorder that causes a person's breathing to repeatedly stop and start throughout the night.
Shares of Arm Holdings PLC ARM had spiked last week on prospects of the company's V9 architecture being used in the new A18 chip for Apple Inc's AAPL iPhone 16.
Apple (NASDAQ: AAPL) stock is showing immediate signs of weakness in reaction to the lackluster pre-order figures for the company's latest smartphone model, iPhone 16.
Barclays analyst Tim Long wrote that overall pre-order units of the iPhone 16 in China are down compared to the same time last year.
Apple shares slid 3.6% in Monday morning trading, after reports that demand for the new iPhone 16 is lower than expected -- and down 12% year over year from the first-weekend sales of the iPhone 15 last year, TF Securities analyst Ming-Chi Kuo wrote in a note. One key factor, Kuo wrote, is that Apple Intelligence, one of the major selling points for the new models at Apple's annual event last week, won't be available until next month in beta.
A prominent Apple analyst says iPhone 16 Pro preorders were lower in the first weekend relative to last year's iPhone 15 Pro performance.
Shares of Apple, Inc. AAPL moved sharply lower in premarket trading on Monday, with a slew of factors weighing down on them.