The latest generation of the Apple iPhone 16 isn’t generating the same buzz as the previous two versions. It’s been more than a week since its launch, and Wall Street isn’t happy with the results. As compared to the last 2 year’s sales, this time shipping of the company’s latest smartphones is shorter.
Shares in the world’s most valuable company (AAPL) fell by 2.8pc on Monday. Ming-Chi Kuo, an analyst at TF International Securities, said iPhone 16 series first-weekend pre-order sales were estimated at 37m units, 12.7pc lower than last year’s corresponding iPhone 15 sales.
“Typically, at this point in the launch cycle, wait times at the high end have ticked higher sequentially as demand remained somewhat stable,” UBS analyst David Vogt wrote in an investor’s note Tuesday.
“However, wait times in the US for the high-end 16s (Pro and Pro Max) did not notably tick higher like the wait times for the high-end 14 and 15s.”
Erik Woodring, from Morgan Stanley Research, made a comparable observation in his letter to investors. He said iPhone 16 lead times continued to track lower than previous iPhone sales cycles. The average iPhone 16 lead time stood at 15.2 days, compared to an average of 25.7 days for all iPhone 15 models last year. Even the lead time for the iPhone 14 line was 18 days.
This could simply be blamed on the delay of Apple intelligence in the latest smartphone. Apple Intelligence is set to launch later this fall, with additional capabilities added throughout 2025. Customers could simply be holding off on grabbing an iPhone 16 or iPhone 16 Pro with this feature.
While the latest iPhones lack Apple Intelligence, they remain fantastic devices. The upgraded cameras and better photo style options are excellent additions. Enhanced battery life and the inclusion of the Action Button in the standard iPhone 16 and iPhone 16 Pro are useful enhancements.
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