Apple shares slip on signals of soft demand for iPhone 16

STORY: Apple shares fell nearly 3% on Monday (September 18).

Investors were spooked after hearing uninspiring analyst projections for the new iPhone 16 Pro models.

Market watchers said delivery time for the new smartphones indicated weaker-than-expected demand.

They blamed it on a delayed rollout of key artificial intelligence features.

The firm unveiled its long-awaited iPhone 16 series last week featuring its AI software – Apple Intelligence.

Early preorder data from one leading researcher showed shorter global shipping times for the 16, compared with last year’s models, possibly indicating lower customer demand.

That was as of Monday, three days after Apple started taking pre-orders.

One analyst said a key issue was how the 16’s major selling point – Apple Intelligence – wasn’t available at launch.

It is due to arrive in the U.S. version of the English language in beta next month, and for other versions as late as next year.

The slower roll-out of the AI feature could leave some customers uncertain on whether to upgrade to the 16 series.

Another market researcher found first-weekend pre-order sales for the iPhone 16 Pro were down more than a quarter.