Apple shares slip as shorter iPhone 16 shipping times signal soft demand

FILE PHOTO: An attendee holds two iPhones 16 as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. September 9, 2024. REUTERS/Manuel Orbegozo/File Photo

(Reuters) - Shares of Apple fell nearly 3% on Monday after some analysts said delivery times for the new iPhone 16 Pro models indicated weaker-than-expected demand, possibly due to the delayed rollout of key artificial intelligence features.

Apple last week unveiled its long-awaited iPhone 16 series designed around its AI software, Apple Intelligence.