Apple shares plunge after iPhone 16 launch, loss of so many crores
Apple shares fall: There has been some news regarding Apple stock that may be a cause of great concern for its investors. Apple shares fell by over 3 percent on Monday and the market value of this company decreased by a total of $116 billion. In fact, after the launch of iPhone 16, some analysts said that the demand for Pro models of the iPhone 16 series may be lower than expected. The main reason for this is the company’s delay in incorporating AI-related features. Apple shares have continued to fall since the analyst’s statement and the company has suffered a loss of crores in the last 24 hours.
What is the reason for the decline?
Ming-Chi Kuo, an analyst at TF Securities, said in a blog post that the demand for iPhone 16 and iPhone 16 Plus has increased year-on-year compared to similar models in the previous series. Apple received around 10 percent more pre-order demand for the iPhone 16 and around 48 percent more demand for the iPhone 16 Plus in the first weekend. Sales during the first weekend of pre-orders for the iPhone 16 series are estimated to be around 37 lakh units. This is about 12.7 percent less than the iPhone 15 series introduced last year.
impact of low demand
Kuo said that the lack of Apple Intelligence features at the launch of the new iPhone series could be a reason for the low number of pre-orders. Recently, at the Worldwide Developers Conference (WWDC), Apple showcased features such as writing tools and an image playground. Only a few of these features will be included in the iOS 18.1 update that will be released next month and the rest of the features will be included next year. The demand for the iPhone 16 series may increase in the upcoming holiday season. In the country, Apple has reduced the prices of the iPhone models of the previous series by Rs 10,000. The price of the iPhone 15 introduced last year and the iPhone 14 introduced in 2022 has been reduced by Rs 10,000 on the company’s online store.
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Loss of Rs 9.72 lakh crore
Apple shares fell by over 3 percent on Monday on the Dow Jones. Due to this, the company has suffered a loss of 116 billion dollars or 9 lakh 72 lakh crores in 24 hours.
