Apple Inc.'s shares fell 11% last week, marking their worst performance since 2022, driven by several concerns including diminished market share in China, where local competitors like Vivo and Huawei offer advanced AI features that Apple lacks. The delay of Apple's flagship AI product, initially expected with iOS 18, has further intensified worries about the company's competitiveness. Meanwhile, questions surrounding incremental upgrades from the iPhone 15 to 16 have emerged, causing uncertainty about attracting new customers in a crowded market.
Apple's shares fell 11% last week, their worst week since 2022, primarily due to market share concerns in China and delays in AI product advancements.
The company faces increased competition from local brands like Vivo and Huawei, which are gaining traction in China with advanced AI features that Apple currently lacks.
Apple's delayed AI enhancements for Siri, which are expected to be a key component for its products, has raised concerns about the company's competitive edge.
There are fears that Apple's lack of innovation in iPhone upgrades will hinder its ability to draw new customers as competitors introduce state-of-the-art technology.
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