What Happened: Apple's iPhone shipments fell by a staggering 9.3 million units, from 58 million in Q1 2023 to 48.7 million in Q1 2024, according to market research firm, Canalys.

In a note from Morgan Stanley seen by CNBC, the analysts expect Apple will ship around 9 million fewer iPhones than initially expected, that's 3 million fewer than previously predicted.

Apple's suppliers delivered 2.9 million iPhones from India to the United States in April, showing a 76% year-on-year increase, according to Omdia research firm.

Apple has plenty of ground to make up in the country as its numbers continue to indicate that the iPhone is losing its foothold. Its share of the smartphone market in China for Q4 2024 was 17% ...

In the first weekend of presales, Apple sold 9.8 million iPhone 16 Pros and 17.1 million iPhone 16 Pro Max devices, down 27% and 16% year-over-year, respectively, according to Kuo.

Apple Inc. aims to ship at least 90 million iPhone 16 devices in the latter half of this year, counting on AI services to fuel demand for its new lineup after a rocky 2023.