Elon Musk Says X Will Open-Source Its Algorithm Amid EU Scrutiny 
xAI Cash Burn Highlights the High Cost of Competing in Generative AI 
Boeing 737 MAX 10 Advances in FAA Testing as Certification Delays Continue 
FCC Approves Expansion of SpaceX Starlink Network With 7,500 New Satellites 
Walmart to Join Nasdaq-100 Index as It Replaces AstraZeneca Following Exchange Move 
Samsung Electronics Hits Record High as AI Momentum Fuels Investor Optimism 
Discord Confidentially Files for U.S. IPO, Signaling Major Milestone 
FCC Exempts Select Foreign-Made Drones From U.S. Import Ban Until 2026 
Rio Tinto–Glencore Merger Talks Spark Investor Debate Over Value, Strategy and Coal Exposure 
FTC Blocks Edwards Lifesciences’ JenaValve Acquisition in Major Antitrust Ruling 
Nvidia Unveils Rubin Platform to Power Next Wave of AI Infrastructure 
OpenAI Sets $50 Billion Stock Grant Pool, Boosting Employee Equity and Valuation Outlook 
Samsung Forecasts Strong Q4 Profit on AI-Driven Memory Chip Boom 
AMD Unveils Next-Generation AI and PC Chips at CES, Highlights Major OpenAI Partnership 
SK Hynix Shares Hit Record High as AI Memory Demand Fuels Semiconductor Rally 
Nvidia Appoints Former Google Executive Alison Wagonfeld as First Chief Marketing Officer 
Ford Targets Level 3 Autonomous Driving by 2028 with New EV Platform and AI Innovations 
Apple shares declined by 3% on Monday after analysts reported lower-than-expected demand for the new iPhone 16 Pro models. The shorter global shipping times compared to last year's models suggest weaker pre-orders and potential consumer hesitation.
Apple Shares Drop on Weak iPhone Demand
On Monday, Apple stock dropped about 3% as some analysts speculated that the delayed release of important AI features may have contributed to slower-than-expected demand for the new iPhone 16 Pro models.
Apple finally announced the iPhone 16 series last week, and it was built around Apple Intelligence, the company's artificial intelligence software.
Pre-Order Data Shows Decline in Ship Times
According to early pre-order data from BofA Global Research, the global shipping times for the iPhone 16 Pro models are shorter than last year's 15 Pro models. This information was shared by Reuters on Monday, three days after Apple began accepting pre-orders.
Based on the data, the average ship time for the iPhone 16 Pro is presently 14 days, which is lower than last year's 15 Pro's 24 days. On the other hand, the iPhone 16 Pro Max's 19 days ship time is compared to 32 days last year.
"The key factor is the lower-than-expected demand for the iPhone 16 Pro series ... the major selling point, Apple Intelligence, is not available at launch," Ming-Chi Kuo, an analyst at TF International Securities based in Taiwan, wrote in a blog post.
Apple Intelligence could delay the 16 series upgrade for some consumers as it won't be available in beta for the US English edition until next month and for other versions until next year.
First Weekend Sales Fall for Pro and Pro Max
According to Kuo, the first-weekend pre-order sales of the iPhone 16 Pro model fell 27%, and the Pro Max variant fell 16%.
"The U.S. is much weaker than last year, unless Apple massively increased supply allocation," analysts from Jefferies explained.
Indeed, according to Yahoo Finance, some experts have speculated that reduced shipping times might have resulted from an increase in the availability of the Pro models this time around, following last year's iPhone 15 Pro Max, when supplies of the camera lens caused delays in shipments.
"We are not concerned if pre-orders don't show meaningful growth," commented Gil Luria, an analyst at D.A. Davidson.
"The (AI) features will be rolling out gradually ... which means the upgrade cycle will likely materialize over the next 12-18 months."
