Apple on Friday greeted prospects at its shops world wide for the debuts of the iPhone 16, Apple Watch Sequence 10 and AirPods 4.
The brand new merchandise had been introduced at an occasion earlier this month and have been out there for pre-order since Sept. 13. The corporate lit up the glass dice at its Fifth Avenue Apple Retailer in New York Metropolis, in a nod to the improved Siri, which can mild up the borders of the brand new iPhone’s display screen when that function rolls out subsequent month.
Apple’s recent iPhones mark the corporate’s newest transfer into synthetic intelligence, with new Apple Intelligence options that can start to launch in October. The brand new options will enable prospects to rewrite textual content, take away objects from pictures and converse with an improved Siri. The software program developments will solely be out there on iPhone 16 and final yr’s iPhone 15 Professional units.
A view of Apple’s new iPhone 16 at an Apple Retailer on the Regent Road in London, United Kingdom on September 20, 2024.
Rasid Necati Aslim | Anadolu | Getty Photos
However Apple shares slid on Monday after analyst stories prompt that demand for the newest iPhones was decrease than anticipated. TF Securities analyst Ming-Chi Kuo stated in a observe on Monday that first-weekend gross sales had been down about 12% yr over yr from the iPhone 15 final yr. Barclays, JPMorgan and Financial institution of America additionally famous delivery occasions might translate to lighter demand for the dearer iPhone Professional fashions in contrast with final yr.
CNBC’s Steve Kovach spoke with CEO Tim Cook dinner exterior Apple’s Fifth Avenue retailer and requested whether or not gross sales regarded higher or worse than final yr. “I don’t know yet. It’s only the first hour, so we’ll see,” Cook dinner stated.
On Friday, UBS analysts prompt buyers should not overreact to what seems to be lighter gross sales as a result of that knowledge can be collected by analyzing the wait occasions for brand spanking new iPhone fashions and that these had been longer final yr due partly to provide chain disruptions.
Apple Retailer Fifth Avenue in New York
Steve Kovach| CNBC
“Ahead of the iPhone 16 announcement, our analysis suggested that a lack of a killer app and arguably somewhat half-baked introduction of Apple Intelligence would dampen demand,” the UBS analysts wrote. “While we still argue the collection of iPhone/iOS attributes are more evolutionary than revolutionary, we caution that investors not overreact to data that suggests somewhat initial tepid demand.”
The UBS analysts stated provide chain disruptions final yr “slightly distorted/extended last year’s data,” which led to longer wait occasions for patrons for Professional fashions. Final yr, UBS wrote, prospects had a 41-day wait time for some iPhone 15 Professional Max pre-orders in contrast with a 26-day wait time for the iPhone 16 Professional Max this yr.
“Nevertheless, data across all models and regions roughly a week post launch support our view that a super-cycle is not imminent as US and China data on the margin is disappointing relative to last year,” they wrote.
Units of the brand new Apple Watch Sequence 10 mannequin are on show after the presentation at Apple headquarters.
Andrej Sokolow | Image Alliance | Getty Photos
The Apple Watch Sequence 10 affords a bigger display screen than that of earlier fashions. It should assist, together with the sooner Sequence 9, new Sleep Apnea detection, in addition to different recent options. The AirPods 4 provide a refresh with a smaller charging case and an possibility with noise cancellation.
CNBC reviewed the new iPhone 16 Professional Max and the Apple Watch Sequence 10 earlier within the week.
— CNBC’s Michael Bloom and Steve Kovach contributed to this report.
