Apple's recent struggles in the global smartphone market have been highlighted by a 5% decline in iPhone sales during the final quarter of 2024. This downturn is largely attributed to intensified competition from Chinese manufacturers and delays in rolling out new AI features in China, Apple's largest market outside the U.S. The company's market share for iPhones fell to 18% last year, as Chinese Android makers like Xiaomi and Vivo continue to gain traction. Despite these challenges, Apple's premium models, such as the Pro and Pro Max, have seen increased demand, underscoring a consumer preference for high-end products in China.
The Direxion Daily AAPL Bear 1X Shares ETF (AAPD) rose 0.99% to $16.31 by 5:00 PM on Monday, January 13.