Apple shares slump after alarming data showing weak demand for iPhone 16

Shares of Apple fell nearly 3% on Monday after several analysts said that 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.Early pre-order data from BofA Global Research revealed shorter global shipping times for the iPhone 16 Pro models compared to last year’s 15 Pro models, as of Mond ...