Mon Sep 16 16:21:22 UTC 2024: ## Apple Shares Dip on Weaker-Than-Expected iPhone 16 Pro Demand

**New York, NY** – Apple shares experienced a nearly 3% drop on Monday following reports of weaker-than-expected demand for the new iPhone 16 Pro models. Analysts attributed the decline to the delayed rollout of key artificial intelligence (AI) features, which were touted as a major selling point of the new series.

The iPhone 16 Pro models, featuring Apple’s new AI software “Apple Intelligence,” have seen shorter delivery times compared to last year’s iPhone 15 Pro models. This, according to analysts, suggests lower-than-expected demand.

“The major selling point, Apple Intelligence, is not available at launch,” said Ming-Chi Kuo, a prominent Apple analyst. “It’s arriving in beta only next month for the US English version, and for other versions as late as next year.”

The delayed rollout of this key feature, coupled with first-weekend pre-order sales for the Pro models declining by 27% and 16% respectively, fueled concerns about overall demand. Some analysts have noted that improved supply could also have contributed to shorter delivery times, as compared to last year’s production issues.

Despite the initial decline, some analysts remain optimistic, citing the gradual rollout of AI features as a potential catalyst for a stronger upgrade cycle over the next 12-18 months.

“We are not concerned if pre-orders don’t show meaningful growth,” stated D.A. Davidson analyst Gil Luria. “The (AI) features will be rolling out gradually…which means the upgrade cycle will likely materialize over the next 12-18 months.”

Apple shares closed at $216.32 on Monday, despite the dip, they remain up 12% year-to-date.

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