Apple Aims to Ship 10% More iPhones in 2024, Banking on AI Features

👉 Key Highlights:
📍 Apple targets shipping 90 million iPhone 16 devices in the latter half of this year.
📍 This represents a 10% growth over iPhone 15 shipments in 2023.
📍 AI features are expected to drive demand for the iPhone 16.
📍 Apple shipped approximately 81 million iPhone 15s in the second half of 2023.
📍 Apple's stock reached a record high of $232.74 following the projection news.
📍 Demand for iPhones in China rebounded strongly since April due to discounts and promotions.
📍 Apple needs to comply with China's stringent AI regulations.
📍 Apple has been catching up on AI, announcing a partnership with OpenAI.
📍 Apple's iPhone faces competition from AI-enhanced smartphones by Samsung and Xiaomi.
📍 Apple filed a petition with China's Supreme People’s Court regarding its market position.