Apple officially introduced the iPhone 15 series last September and managed to impress Apple fans in many ways. Especially with productive artificial intelligence features iPhone 16 The models are expected to be even more remarkable, but Barclays has presented a report that is the exact opposite of these expectations.

British financial institution Barclays published a report on Apple, the company with the highest market value in the world, that upset investors. According to the report, iPhone 16 series, It won’t be very interesting and iPhone sales will drop significantly compared to previous years. Naturally, this decline will lead to a serious drop in Apple’s market value.

Apple’s market value melted after the “iPhone 16 won’t be popular” report.

According to Barclays, iPhone 15 sales, especially in China, are a clear indication that the current model is not attracting attention. More importantly, the iPhone 16, which will be introduced in September next year, compares favorably with the iPhone 15. It is stated that it will not offer any significant new features. Although Apple is trying to change its revenue distribution with digital services and other products, iPhones still account for half of the Cupertino tech giant’s revenue.

According to the report, the decline in iPhone sales affected iPhone stocks. It will cause a drop of up to 17%. It’s hard to predict whether this will happen, but let’s keep in mind that even the Barclays report in question was enough to send Apple shares down more than 4%. Ending the last trading day of 2023 with a share price of 192.53, the company’s per share price has fallen to $184.33 on the first trading day of 2024.