Apple has worst day since August following reports of China, AI struggles

Apple has worst day since August following reports of China, AI struggles


Tim Cook, chief executive officer of Apple Inc., during the first day of in-store sales of Apple’s latest products at Apple’s Fifth Avenue store in New York, US, on Friday, Sept. 20, 2024. 

Victor J. Blue | Bloomberg | Getty Images

Apple stock closed down 4% on Thursday, its worst day since Aug. 5, following several reports of lackluster iPhone sales in China.

The iPhone maker’s stock price is down nearly 12% from its most recent peak in December, and it’s the worst-performing of the seven largest technology stocks so far in 2025.

The slide comes after a report Thursday from Canalys, a market research firm, which suggested that Apple had fallen to third place in terms of smartphones sold in China in 2024, behind homegrown manufacturers Vivo and Huawei.

Apple shipped 15% of the 284 million phones sold in China last year, according to the report, but that was down 17% on an annual basis. Vivo and Huawei, meanwhile, saw strong growth.

TSMC, a key Apple supplier, on Thursday reported a smartphone sales forecast for the first quarter that suggested a nearly 6% sequential drop. TSMC, which makes the chips at the heart of Apple’s devices, attributed the drop to seasonality. TSMC said AI chips comprised over half of its revenue in the fourth quarter, displacing smartphones, which had been its largest business.

Notable Apple supply chain analyst Ming-Chi Kuo on Monday wrote that he expects iPhone shipments to decline 6% on an annual basis in the first half of 2025, with most of the decline happening in the second quarter. Kuo wrote that he believes Apple Intelligence, the company’s artificial intelligence system that is not yet available in China, isn’t boosting iPhone demand.

“There is no evidence of Apple Intelligence’s ability to benefit hardware replacement cycles or service business,” Kuo wrote.

Apple reports its December quarter results on Jan. 30.

WATCH: Apple correction due to fundamentals, iPhone 17 upgrades expected, says Morgan Stanley’s Woodring

Apple correction due to fundamentals, iPhone 17 upgrades expected, says Morgan Stanley's Woodring



Source

Stock futures are little changed after S&P 500, Nasdaq log new highs: Live updates
World

Stock futures are little changed after S&P 500, Nasdaq log new highs: Live updates

Traders work on the floor of the New York Stock Exchange. NYSE Stock futures are little changed Tuesday night after U.S. stocks kicked off the new trading week with fresh records. Futures tied to the Dow Jones Industrial Average rose 6 points, or 0.01%. S&P futures ticked up 0.03%, while Nasdaq 100 futures rose 0.03%. […]

Read More
Anthropic lands its biggest enterprise deployment ever with Deloitte deal
World

Anthropic lands its biggest enterprise deployment ever with Deloitte deal

Samuel Boivin | Nurphoto | Getty Images Deloitte on Monday announced a deal to bring Anthropic’s artificial intelligence assistant Claude to more than 470,000 of its employees around the globe.  The rollout will be Anthropic’s largest enterprise deployment ever, building on a partnership that the two companies first unveiled last year. Deloitte, which offers consulting, […]

Read More
Paul Tudor Jones says ingredients are in place for massive rally before a ‘blow off’ top to bull market
World

Paul Tudor Jones says ingredients are in place for massive rally before a ‘blow off’ top to bull market

Billionaire hedge fund manager Paul Tudor Jones believes the conditions are set for a powerful surge in stock prices before the bull market tops out. “My guess is that I think all the ingredients are in place for some kind of a blow off,” Jones said on CNBC’s “Squawk Box” Monday. “History rhymes a lot, so I […]

Read More