Apple iPhone shipments dip lower year over year despite AI feature: UBS

Shipments for Apple’s (NASDAQ:AAPL) latest, high-end iPhone appear lower than the same time last year, according to data by UBS Evidence Lab.

The UBS Evidence Lab tracks iPhone availability across 30 geographies. UBS finds year-over-year comparisons more revealing in determining demand.

“Wait times for the iPhone 16 lineup have been uninspiring since preorders began last Friday,” said UBS analyst David Vogt, in an investor note. “On average, delivery wait times for the Pro Max models are shorter by roughly 2 weeks across the US, China, Germany, Great Britain, France and Japan.”

Wait times for orders in the US are 26 days compared to about 40 days last year, despite the arrival of Apple Intelligence later this year, UBS noted.

Meanwhile, wait times in China are only 18 days, compared to about 36 days his time last year. There are also reports that online retailers in China have already cut prices by about 10% for the iPhone 16 Plus.

iPhone 16 series first-weekend, pre-order sales are estimated at 37M units, down about 12.7% year-over-year from last year’s iPhone 15 series first-weekend sales.

Still, some analysts believe the initial, weaker-than-expected demand for the iPhone 16 is likely a short-term phenomenon.