Ming-Chi Kuo Says iPhone 16 Shipments To Fall 5% YoY: iOS18's Unveiling At Apple's WWDC 2024 Will Have Limited Impact On Replacement Demand
Portfolio Pulse from Ananya Gairola
Ming-Chi Kuo, an analyst at TF Securities, predicts a 5% year-over-year decline in iPhone 16 shipments in the second half of 2024, indicating limited impact from iOS 18 on replacement demand. Despite high expectations for Apple's AI services and partnership with OpenAI, significant hardware growth is uncertain. Apple shares recently saw a slight increase, closing at $196.89.
June 10, 2024 | 2:14 am
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Ming-Chi Kuo predicts a 5% YoY decline in iPhone 16 shipments for H2 2024, indicating limited impact from iOS 18 on replacement demand. Despite high expectations for Apple's AI services and partnership with OpenAI, significant hardware growth is uncertain.
The prediction of a 5% decline in iPhone 16 shipments suggests that iOS 18 may not drive significant replacement demand, which could negatively impact Apple's revenue from hardware sales. Additionally, while there are high expectations for AI services and the OpenAI partnership, the uncertainty around their success adds to the potential negative impact on Apple's stock price.
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