Apple Stock Slips as iPhone Reportedly Concedes Market Share
4 minutes ago
Apple’s (AAPL) global smartphone market share slipped one percentage point to 18% last year as fourth-quarter iPhone sales dropped 5%, according to Counterpoint Research.
Bloomberg earlier had reported the fourth-quarter slump, reflecting the U.S. firm’s lack of artificial intelligence (AI) features in its phones in China, and a spokesperson at the research firm confirmed the figure.
Apple’s global smartphone sales dropped 2% year-over-year at a time when the overall market grew 4%, as the iPhone 16 series “was met with a mixed response, partly due to a lack of availability of Apple Intelligence at launch,” Counterpoint said.
Still, Counterpoint analyst Ivan Lam said that Apple’s premium products are winning fans.
“iPhone sell-through was down, but consumers are pivoting to Apple’s ultra-high end, helping to offset some of the declines,” Lam said. “In markets like China, we’re seeing sell-through share of Pro series devices ballooning.”
Shares of Apple were down more than 2% early Monday morning, bringing their year-to-date decline to nearly 8%.
Stock Futures Slump as Rate Cut Hopes Fade
59 minutes ago
Futures contracts connected to the Dow Jones Industrial Average were slightly lower in premarket trading on Monday.
S&P 500 futures were down 0.6%.
Nasdaq 100 futures declined 0.9%.