On Friday, Apple welcomed customers in its stores worldwide for the launch of the iPhone 16, Apple Watch Series 10, and AirPods 4.
These new products were announced earlier this month and have been available for pre-order since September 13. The company lit up the glass cube at its Fifth Avenue store in New York City to celebrate the improved Siri, which will light up the edges of the new iPhone’s screen when it’s released next month.
Apple’s new iPhones are part of the company’s latest push into artificial intelligence, introducing new Apple Intelligence features starting in October. These features will let users rewrite text, remove objects from photos, and interact with an upgraded Siri. However, these software improvements will only be available on the iPhone 16 and last year’s iPhone 15 Pro.
Apple Sees Lower Demand for New iPhones and Updates on Products
On Monday, Apple shares fell after analysts reported that demand for the new iPhones was lower than expected. TF Securities analyst Ming-Chi Kuo noted that first-weekend sales were down about 12% compared to the iPhone 15 last year. Barclays, JPMorgan, and Bank of America also mentioned that shipping times could indicate weaker demand for the pricier iPhone Pro models compared to last year.
Apple CEO Tim Cook was outside Apple’s Fifth Avenue store when asked if sales looked better or worse than last year. Cook replied, ‘I don’t know yet. It’s only the first hour, so we’ll see.’
On Friday, UBS analysts advised investors not to panic about what seems like lower sales. They explained that this data comes from analyzing wait times for new iPhone models, which were longer last year due to supply chain issues.
The UBS analysts noted that supply chain problems last year “slightly distorted/extended last year’s data,” resulting in longer wait times for customers wanting Pro models. Last year, customers had to wait 41 days for some iPhone 15 Pro Max pre-orders, while this year the wait for the iPhone 16 Pro Max is 26 days.
The Apple Watch Series 10 has a bigger screen than previous models. It will include new features like Sleep Apnea detection, along with the earlier Series 9. The AirPods 4 have been updated with a smaller charging case and a noise cancellation option.
Conclusion
Apple just released the iPhone 16, Apple Watch Series 10, and AirPods 4, but early sales are lower than expected. Analysts advise not to worry too much, as last year’s longer wait times affected comparisons. The new products also come with better features, showing Apple’s focus on artificial intelligence.
