Apple Stock Dips as Analyst Highlights Weak iPhone 16 Demand Amid Market Concerns
Market Reactions to Apple Stock
Apple shares tumbled about 3% on Monday, leading a broader tech selloff that weighed on the Nasdaq Composite. Apple's stock was trading at $215.90 a share, down 2.9% shortly after midday on Monday.
Analyst Predictions on iPhone 16 Demand
The decline came shortly after TF International Securities analyst Ming-Chi Kuo estimated the iPhone 16 series garnered 37 million pre-orders in its first weekend – nearly 13% short of last year's iPhone 15 debut weekend. The lack of demand for the newest iPhone is likely because Apple has yet to roll out its most anticipated new feature, Apple Intelligence, Kuo said.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.