Apple stock continued its downward trajectory Monday on the latest reports of soft iPhone sales and brutal criticism of the company by Meta Platforms Chief Executive Mark Zuckerberg.
Counterpoint Research reported Monday that Apple's iPhone unit sales fell 2% worldwide in 2024. Meanwhile, total global smartphone unit sales increased 4% last year.
Apple grabbed 18% market share in 2024, down from 19% in 2023, Counterpoint said. Apple was the second-largest smartphone vendor, behind Samsung with a 19% share.
"IPhone sell-through was down, but consumers are pivoting to Apple's ultra-high end (models), helping to offset some of the declines," Ivan Lam, senior analyst at Counterpoint Research, said in a news release.
Meanwhile, in a blog post on Friday, TF International Securities analyst Ming-Chi Kuo said artificial intelligence features, branded Apple Intelligence, have failed to boost iPhone sales.
"My latest industry research indicates that Apple will encounter more challenging hurdles in 2025, including nearly stagnant iPhone growth, AI services that have yet to contribute, and ongoing decline in the Chinese market," Kuo said.
Apple has been cautious when discussing its 2025 iPhone production plans with key suppliers, Kuo said. Its handset shipments could fall 8% to 10% below consensus estimates, he said.
He expects iPhone shipments of roughly 220 million to 225 million units in 2025 vs. about 220 million in 2024. The consensus estimate for iPhone shipments in 2025 is 240 million or more, Kuo said.
Zuckerberg Slams Apple For Lack Of Innovation
In other news, social media executive Zuckerberg criticized Apple for its lack of innovation and "squeezing people" for money during a podcast interview with Joe Rogan, CNBC reported.
He said Apple hasn't invented anything great in roughly two decades, since Steve Jobs created the iPhone.
On the stock market today, Apple stock fell 1% to close at 234.40.
On Friday, Apple stock triggered a sell signal when it plunged beneath its 50-day moving average line in heavy volume.
Still, Apple stock remains on the IBD Tech Leaders list.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
