Early iPhone 18 Pro Demand Concerns for Apple Stock
Apple's newly launched iPhone 18 Pro and Pro Max models are facing lukewarm preorder demand, according to analyst Jeff Pu of GF Securities. The weak response is attributed to limited feature upgrades and higher pricing—$1,199 and $1,299 respectively. Apple also introduced its first foldable phone, the iPhone Duo at a starting price of $1,999, but analysts suggest it lacks revolutionary features compared to competitors like Samsung or Motorola. The underwhelming demand raises concerns for new CEO John Ternus as he takes over leadership in early October 2024. The company is also launching its Siri AI with the iOS 27 update, aiming to regain ground against generative AI chatbots such as ChatGPT and Claude. However, analysts note that customers may be holding out for the foldable Duo instead of preordering current models. Apple's smartphone sales remain a key revenue driver, but early signs suggest potential challenges in maintaining consumer enthusiasm under new leadership.
Tickers: $AAPL
Topics: Apple foldable phone iPhone launch John Ternus preorder data