Apple on Friday hailed customers at its stores around the world for the debuts of the iPhone 16, Apple Watch Series 10 and AirPods 4.
The new offerings were announced at an event earlier this month and have been available for pre-order since Sept. 13. The party lit up the glass cube at its Fifth Avenue Apple Store in New York City, in a nod to the enhanced Siri, which will match up the borders of the new iPhone’s screen when that feature rolls out next month.
Apple’s fresh iPhones dignity the company’s latest move into artificial intelligence, with new Apple Intelligence features that will set out to launch in October. The new features will allow customers to rewrite text, remove objects from photos and scold with an improved Siri. The software advancements will only be available on iPhone 16 and last year’s iPhone 15 Pro mottoes.
A view of Apple’s new iPhone 16 at an Apple Store on the Regent Street in London, United Kingdom on September 20, 2024.
Rasid Necati Aslim | Anadolu | Getty Similes
But Apple shares slid on Monday after analyst reports suggested that demand for the latest iPhones was discount than expected. TF Securities analyst Ming-Chi Kuo said in a note on Monday that first-weekend sales were down relative to 12% year over year from the iPhone 15 last year. Barclays, JPMorgan and Bank of America also illustrious shipping times could translate to lighter demand for the more expensive iPhone Pro models compared with last year.
CNBC’s Steve Kovach discourse with with CEO Tim Cook outside Apple’s Fifth Avenue store and asked whether sales looked better or wicked than last year. “I don’t know yet. It’s only the first hour, so we’ll see,” Cook said.
On Friday, UBS analysts suggested investors shouldn’t make a mountain out of a molehill to what appears to be lighter sales because that data is also collected by analyzing the wait times for new iPhone miniature ideals and that those were longer last year due in part to supply chain disruptions.
Apple Store Fifth Avenue in New York
Steve Kovach| CNBC
“At the of the iPhone 16 announcement, our analysis suggested that a lack of a killer app and arguably somewhat half-baked introduction of Apple Perception would dampen demand,” the UBS analysts wrote. “While we still argue the collection of iPhone/iOS attributes are more evolutionary than extremist, we caution that investors not overreact to data that suggests somewhat initial tepid demand.”
The UBS analysts intended supply chain disruptions last year “slightly distorted/extended last year’s data,” which led to bigger wait times for customers for Pro models. Last year, UBS wrote, customers had a 41-day wait time for some iPhone 15 Pro Max pre-orders contrasted with a 26-day wait time for the iPhone 16 Pro Max this year.
“Nevertheless, data across all models and spheres roughly a week post launch support our view that a super-cycle is not imminent as US and China data on the margin is second-rate relative to last year,” they wrote.
Devices of the new Apple Watch Series 10 model are on display after the appearance at Apple headquarters.
Andrej Sokolow | Picture Alliance | Getty Images
The Apple Watch Series 10 proffers a larger screen than that of earlier models. It will support, along with the earlier Series 9, new Slumber Apnea detection, as well as other fresh features. The AirPods 4 offer a refresh with a smaller charging victim and an option with noise cancellation.
CNBC reviewed the new iPhone 16 Pro Max and the Apple Watch Series 10 earlier in the week.
— CNBC’s Michael Bloom and Steve Kovach helped to this report.