Investing.com — Apple fell Wednesday in favor of market analysts. Ming-Chi Kuo TF International, Known for his nail-driving skills Forecasts on Apple delivered a gloomy update on demand for the iPhone 16, saying the tech giant has cut orders by a total of 10 million units from the fourth quarter of 2024 to the first half of 2025.
Apple Inc. (NASDAQ:) fell more than 2% in recent trading on Wednesday.
Most of the reductions are for non-professional iPhone 16 models, with total iPhone production in Q4 2024, Q1 2025, and Q2 2025 at approximately 80 million, 45 million, and 3,900 units, respectively. The number of units sold is expected to be 10,000,000 units, both of which are down from the previous year, Kuo wrote. Post on Medium.
The reduction in orders for the third quarter through the first half of 2025 means that iPhone 16 production in the second half of fiscal 2024 is now estimated at 84 million units, up from 88 million previously.
Kuo added that the gloomy estimates for iPhone 16 orders suggest that there is “no evidence yet that Apple Intelligence can increase iPhone shipments in the short term.”
Apple announced the iPhone 16 at its Glow Time product event last month, showing off the integration of its artificial intelligence assistant Apple Intelligence into the new iPhone suite.
Ahead of the launch, many on Wall Street were optimistic that the new AI-powered iPhones could prompt users of older iPhone models to upgrade, potentially leading to a new upgrade cycle for the tech giant. .
Apple on Wednesday released a new preview of Apple Intelligence features, including ChatGPT integration.
Apple says Apple Intelligence will be generally available as part of the official release of iOS 18.1 next week.
