Apple plans to sell at least 90 million iPhone 16 series units by the end of 2024, driven by AI-based features. According to Bloomberg, Apple has informed suppliers and partners of its intention to increase shipments of new iPhones by about 10% compared to the previous year's sales. In 2023, Apple sold approximately 81 million iPhone 15 units.

Apple believes that the previously announced Apple Intelligence AI features, set to appear in the iPhone 16, will boost demand for its smartphones later this year. It seems Apple is counting on a stronger 2024, despite competition from other AI-enabled smartphones from vendors like Samsung.

The second half of last year was challenging for the iPhone, especially in China, where the market was captured by Huawei's Mate 60 Pro, which uses a homegrown processor. Wall Street analysts expect Apple’s iPhone revenue to decline in the second half of 2024.

Following Bloomberg's report on Apple's plans to increase iPhone sales, the company's stock rose by 1.8% to $232.74 per share. As of the market close, Apple shares had increased by 19% since the beginning of the year. This news also contributed to the rise in stock prices of Apple suppliers such as Skyworks Solution and Qorvo. Apple representatives declined to comment on iPhone supply plans.

According to Bloomberg Intelligence analysts, Apple's iPhone sales forecast is a positive sign, considering the relatively low smartphone sales over the past two years. Data from IDC indicates that global smartphone shipments fell by 3.2% last year, although Apple managed to achieve a 3.7% growth.