Concerns over ‘lacklustre’ sales of iphones at Apple
SALES of Apple’s latest iphone 15 smartphone are proving “lacklustre”, analysts have warned.
The US tech giant is facing “mounting headwinds” across its product line-up, according to Barclays, which includes weaker demand in China.
Concerns were also raised over the new iphone 16, slated for release later this year, as analysts said it could disappoint customers with a lack of meaningful upgrades.
A note from Barclays said: “iphone 15 has been lacklustre and we believe iphone 16 should be the same.
“The biggest takeaway from the latest checks is incrementally worse [iphone] 15 data points out of China.”
The note of caution sent Apple’s shares down by more than 3pc to $186 in early trading in New York, wiping around $90bn (£71bn) from its value.
Apple had enjoyed a share price revival during 2023, reaching record highs in mid-december. Its stock rose more than 50pc during the year, valuing Apple at more than $3 trillion.
However, confidence in the company’s value is waning.
Barclays’ analysts said: “Our checks remain negative on volumes and mix for iphone 15, and we see no features or upgrades that are likely to make the iphone 16 more compelling.”
Apple is currently facing increased competition in China where domestic rival Huawei has staged a comeback, launching a powerful new smartphone, the Mate 60 Pro.
Last week, Huawei claimed to have managed to “weather the storm” of sanctions imposed by the US government, as it hailed rising sales.
The US had imposed restrictions on Huawei that largely blocked its access to cutting-edge microchips.
But in September, the Chinese surprised the West with claims it had developed a high-end phone with a powerful processor.
Separately yesterday, analysts from research firm Counterpoint said Apple’s market share among “premium” smartphones – worth more than $600 – had declined, but it “continues to be the premium market’s undisputed leader”.
Its market share slipped from 75pc in 2022 to 71pc last year.