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Apple Cuts iPhone 16 Orders by 10M Units Through Mid-2025; Analyst Kuo Cites No Boost from Apple Intelligence

Oct 23, 2024, 04:13 PM

Apple Inc. is reportedly reducing orders for its upcoming iPhone 16 by approximately 10 million units across the fourth quarter of 2024 to the second quarter of 2025, according to industry analyst Ming-Chi Kuo of TF International Securities. The cuts, which primarily affect non-Pro models, bring the updated production forecast to 84 million units for the first three quarters of availability. Kuo clarified that the 10 million units reduction is spread over three quarters. He also indicated that there is no evidence that Apple Intelligence, the company's new suite of AI features set to launch in the U.S. on October 28, will significantly boost iPhone shipments in the near term. Comments from AT&T and Verizon have also pointed to sluggish early demand. Following these reports, Apple shares dropped by 2.4%, impacting the company's outlook for the first half of 2025.