iPhone 15 Sales Slow in China as Huawei Takes Top Spot

Apple stock fell 1.2% on reports of weaker than expected iPhone 15 sales in China versus the iPhone 14.

Market tracker Counterpoint estimates a 4.5% decline in iPhone 15 sales in China in the first 17 days after release.

Jefferies analysts believe the iPhone 15 sales decline in China is even steeper, double-digits versus the iPhone 14.

Huawei has overtaken Apple's top spot in the Chinese smartphone market, with strong Mate 60 Pro sales projected.

Analysts say weak iPhone demand in China could lead to lower than expected global shipments.