Is Apple Running Out of Steam? iPhone 16 Series Pre-orders Decline on Opening Weekend, Market Cap Evaporates by $69 Billion
Is Apple Running Out of Steam? iPhone 16 Series Pre-orders Decline on Opening Weekend, Market Cap Evaporates by $69 BillionApple appears to be facing a bottleneck in innovation. According to TF International Securities analyst Ming-Chi Kuo, the iPhone 16 series recorded approximately 37 million pre-orders over the opening weekend, marking a year-on-year decrease of about 12
Is Apple Running Out of Steam? iPhone 16 Series Pre-orders Decline on Opening Weekend, Market Cap Evaporates by $69 Billion
Apple appears to be facing a bottleneck in innovation. According to TF International Securities analyst Ming-Chi Kuo, the iPhone 16 series recorded approximately 37 million pre-orders over the opening weekend, marking a year-on-year decrease of about 12.7% compared to the iPhone 15 series last year. Kuo attributed the decline primarily to lower-than-expected demand, despite an increase in pre-order inventory, citing the significantly slower shipping time for the iPhone 16 Pro series compared to the 15 Pro series.
This news has had a negative impact on Apple's stock price, causing its market cap to evaporate by $69 billion (approximately 490 billion yuan) within a week. Many domestic retailers and users have also expressed concerns over Apple's declining innovation. They argue that Apple's smartphones are increasingly becoming mundane in terms of innovation, particularly noticeable this year, especially with the simultaneous launch of Huawei's tri-fold phone. Some users even stated that after Huawei's tri-fold phone release, Apple is no longer their top choice, especially considering the growing trend of using domestic smartphones.
The market performance of Huawei's tri-fold phone reinforces this perspective. As of this writing, the device has garnered 6.259 million pre-orders and is set to officially launch on September 20th with a reported inventory of 1 million units.
These indicators suggest that Apple is facing immense pressure in terms of innovation, further intensified by the rise of domestic brands like Huawei. Moving forward, Apple needs to devote more effort to innovation to maintain its market position.
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