Apple stock fell amid soft iPhone sales, Zuckerberg’s disc
Apple (APL) stock continued its downward march Monday amid recent reports of soft iPhone sales and harsh criticism of the company. Meta forums (META) CEO Mark Zuckerberg.
Counterpoint Research reported Monday that Apple’s iPhone unit sales will decline by 2% globally in 2024.
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Apple in 2010 It will hold 18 percent market share in 2024, down from 19 percent in 2023, Counterpoint said. Apple was the second largest smartphone vendor behind Samsung with a 19 percent share.
“iPhone sales are down, but consumers are moving to Apple’s higher-end (models), helping to offset some of the decline,” said Evan Lam, senior analyst at Counterpoint Research. News release.
Meanwhile, in A Blog post On Friday, TF International Securities analyst Ming-Chi Kuo said artificial intelligence features, branded Apple Intelligence, failed to boost iPhone sales.
“My latest industry research indicates that Apple will face more challenging obstacles in 2025, including almost frozen iPhone growth, AI services that have not yet contributed, and a continued decline in the Chinese market,” Kuo said.
Apple has been cautious in discussing its 2025 iPhone production plans with key suppliers, Kuo said. Its mobile shipments could fall 8% to 10% from consensus estimates, he said.
In the year It expects 220 to 225 million iPhone shipments in 2025 and around 220 million iPhone shipments in 2024.
Zuckerberg blamed Apple for a lack of innovation
In other news, social media executive Zuckerberg criticized Apple for not being innovative and “squeezing people out of money” in a podcast interview with Joe Rogan. CNBC reported.
Steve Jobs has said that Apple hasn’t created anything good in two decades since he invented the iPhone.
On the stock market today, Apple shares fell 1% to close at 234.40.
On Friday, Apple stock triggered a sell signal when its 50-day moving average fell sharply.
Still, Apple stock remains on the IBD Tech Leaders list.
Patrick Seitz at X, formerly of Twitter, at @IBD_PSeitz For more stories on consumer technology, software and semiconductor stocks.
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