Apple Orders Over 10% More iPhones for AI-Driven Models

👉 Key Highlights:

📍 Apple orders 88-90 million iPhones, up from 80 million last year.

📍 First iPhone with Apple Intelligence and generative AI features to debut on Sept. 9.

📍 Some suppliers report orders exceeding 90 million units.

📍 Apple faces stiff competition from Huawei in China, affecting market share.

📍 Chinese market contributed 17% of Apple's revenue in Q1 2023.

📍 U.S.-China tensions add uncertainty to Apple's China operations.

📍 Huawei hit by U.S. export controls, limiting access to Qualcomm chips.

📍 Analysts predict about 88 million iPhone shipments in 2024, with modest growth.

📍 Experts do not foresee a major "supercycle" for iPhones this year.

👉 Context/Background:

Apple is gearing up for the launch of its first AI-powered iPhone, anticipating strong demand and placing large orders with suppliers. The new iPhone, featuring Apple Intelligence with generative AI capabilities, is set to launch on September 9. Despite this optimism, Apple is contending with competitive and geopolitical challenges, particularly in China, which is a significant market for the tech giant.