Apple's (AAPL.US) disappointing pre-orders for its iPhone 16 series over the first weekend weighed on its stock, but analysts remain optimistic about the long-term outlook

Apple (AAPL.US) shares closed down 2.78% on Monday amid concerns over weaker-than-expected pre-orders for the iPhone 16 series over the weekend. According to reports, Ming-Chi Kuo, an analyst at TIF International, estimated that the pre-orders for the iPhone 16 series over the weekend were about 37 million units, a year-on-year decrease of about 12.7% compared to the iPhone 15 series, due to weaker-than-expected demand for the iPhone 16 Pro series. Kuo noted that the delivery time for the iPhone 16 Pro series was significantly lower than that of the iPhone 15 Pro series, and in addition to the increased pre-order inventory, the key factor was the weaker-than-expected demand.