Apple unveiled its AI-enhanced iPhone 16 on Monday, sparking a debate on Wall Street as to whether the new features will be enough to reverse a recent sales slump for the tech giant’s flagship product.
Apple unveiled its AI-enhanced iPhone 16 on Monday — but Wall Street is divided on whether it will be able to reverse a sales slump for the tech giant’s flagship product.
Dubbed “Apple Intelligence,” the firm’s AI push was front and center during the high-profile presentation at its Cupertino, Calif., headquarters. The latest model features an A18 chip designed to power large generative models and a customizable “action button” that can be paired with various tasks, such as voice translation, and a new dedicated “camera control” button.
However, the first AI software features won’t be available in beta for iPhone users until next month – more than a week after the phone hits stores on Sept. 20. More updates, including an overhaul of the Siri voice assistant and Apple’s collaboration with ChatGPT, are reportedly expected to follow early next year.
“The next generation of iPhone has been designed for Apple Intelligence from the ground up,” CEO Tim Cook said during the company’s presentation. “It marks the beginning of an exciting new era.”
The base iPhone 16 is priced at $799, while the iPhone 16 Plus is slightly more expensive at $899. The more powerful iPhone 16 Pro and Pro Max models start at $999 and $1,119. The phones are available for preorder on Friday and hit shelves on Sept. 20.
Apple is banking on AI to drive a fresh round of phone upgrades.
