Dan Niles Posts On X "Expectations for $AAPL were for AI features to be able to drive ~10%+ y/y growth in iPhone sales. If accurate, very early indications are that sales are down ~10%...." "The staggered rollout of the AI feature across geographies, especially in China which will get it in 2025, may be part of the reason that very early indications of demand are less than expected as well. Also, promotion of the new phones by the US wireless carriers is not much different than last year."
Portfolio Pulse from Benzinga Newsdesk
Dan Niles suggests that Apple's AI features were expected to boost iPhone sales by over 10% year-over-year, but early indications show a 10% decline. The staggered AI rollout, especially in China, and similar promotion by US carriers may be factors.
September 17, 2024 | 1:21 pm
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Dan Niles reports that Apple's AI features were expected to drive a 10% increase in iPhone sales, but early data suggests a 10% decline. Factors include staggered AI rollout, especially in China, and unchanged US carrier promotions.
The expectation was for AI features to significantly boost iPhone sales, but early indications show a decline. The staggered rollout, particularly in China, and unchanged promotions by US carriers are likely contributing to this shortfall, suggesting a negative short-term impact on Apple's stock price.
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