Apple Analyst Predicts Foldables, Huawei, And AI Pose Threat To iPhone Throne In 2024
Portfolio Pulse from Ananya Gairola
Analyst Ming-Chi Kuo predicts a 15% year-over-year decline in iPhone shipments for Apple Inc. (AAPL) by 2024 due to competition from foldable phones, Huawei's resurgence in China, and AI-driven phone designs. Apple's shipments in China have already decreased by 30-40% compared to last year, and the company has reduced its shipment forecast for the iPhone 15 in 2024. In contrast, Samsung (SSNLF) has increased shipments of its Galaxy S24 series by 5-10%. Apple's major iPhone design changes are not expected until 2025, potentially affecting its market position and ecosystem growth.
January 31, 2024 | 9:13 am
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Apple Inc. may see a 15% decline in iPhone shipments by 2024 due to competition from foldable phones, Huawei's comeback, and AI phone designs. Shipments in China have dropped significantly, and shipment forecasts for upcoming iPhone models have been cut.
The predicted decline in iPhone shipments directly impacts Apple's core product line and revenue. The decrease in shipments in China and the cut in forecast for future models suggest a negative short-term impact on AAPL's stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Samsung has seen a 5-10% increase in shipments for its Galaxy S24 series, indicating higher-than-expected demand. This contrasts with Apple's reduced shipment forecast and may reflect a competitive edge for Samsung.
The increase in shipments for Samsung's Galaxy S24 series suggests positive market reception and demand, which could lead to a short-term positive impact on SSNLF's stock price, especially in light of Apple's challenges.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70