US investment bank Jefferies has downgraded Apple’s stock rating from “buy” to “hold” due to concerns that the market has over-expected the AI capabilities of the new iPhone.
Jefferies analyst Addison Lee noted that smartphone hardware is not yet advanced enough to meet the level of high-tech artificial intelligence analysts and iPhone consumers expect, and he believes Apple shares will fall about 6% to $213.
According to industry reports, global pre-orders for the iPhone 16 fell by about 13% compared to its predecessor, and market demand was not as strong as expected. Although Apple’s initial sales in the Chinese, American and Korean markets were quickly sold out, this was more due to limited inventory.
Addison mentioned in the report that smartphones, unlike AI servers, lack high-speed memory and advanced packaging technology, which limits their AI capabilities.
Yahoo Finance also said that Apple’s first iPhone 16 equipped with AI has disappointed Wall Street so far. Analysts said that consumer demand for Apple’s iPhone 16 is weaker than previous iPhones.
JPMorgan Chase’s latest survey also shows that although the iPhone 16 is faster, few people cite the upcoming AI features as a purchasing motivation.
In addition, according to the latest data from market research firm CINNO Research, after 46 months, Huawei’s domestic mobile phone sales once again surpassed Apple in August 2024.
Kazam is Focused on creating and reporting timely content in technology with a special focus on mobile phone technology. Kazam reports, analyzes, and reviews recent trends, news and rumors in mobile phone technology and provides the best possible insights to enhance your experience and knowledge.
While Chinese stock investors are hotly discussing Apple's negotiations with certain technology companies on AI…
realme 14 Pro and realme 14 Pro+ were officially announced . The new products will be…
Tianyancha shows that OPPO Guangdong Mobile Communications Co., Ltd. recently applied to register an "ophone"…
the real spy photos of Galaxy S25+ went viral on social platforms, resulting in the…
OnePlus Ace 5 Pro will be the industry's first to launch the "Tiangong Cooling Elite"…
Infinix Hot 50 Pro 4G Specifications Infinix Hot 50 Pro 4G - Full Phone Specifications…