Apple's new iPhone 16 is 'not a significant hardware bump,' says WSJ's Joanna Stern

Dan Ives, Wedbush Securities, managing director, and Joanna Stern, Wall Street Journal personal technology columnist, join CNBC's 'Squawk on the Street' to discuss Apple's latest product unveil, why Dan has raised his price target on Apple, and more.

[@eyelovecolorado2195]

So Dan thinks people will spend $1500 on a new iPhone rather than on groceries and rent?? 😂😂

[@SirGenesis206]

This they do every year lol. Just not as much as they used to.

[@AppleSeth]

I'll spend $1100.

[@mickeygarcia2331_]

I mean, they do spend it. Except I think everyone is going for the cheapest version this time around. I doubt anyone wants to pay 2K for the pro. I doubt especially with everything being super expensive nowadays. Even food is out of this world with the prices

[@Vix381]

@@eyelovecolorado2195 Maybe there are enough people that can afford groceries, rent and an iPhone for Apple to make their numbers

[@bruxi78230]

@@SirGenesis206 --- They've just come off their 3 best iPhone years. This fiscal year 2024 will be perhaps a little larger, so best year ever. One more quarter to go in the fiscal year.

[@sebastianlassus912]

sooo buffet sold 50%....reminding people here LOL

[@brianl9740]

Sooo, Apple was 60%+ of his portfolio due to stock growth. He needed to get the % back in line ( now 30%) just saying.

[@Johnwicker1903]

​@@brianl9740Recession recession recession. Take profits at the peak. He sold more than 50% because he has been selling since last year.

[@SwoopENT]

Buffet is in his mid nineties and a majority of Berkshire investors are retiring baby boomers. They do not need over half of the portfolio to be in a growth, tech stock. Retiring baby boomers are more risk averse. Not only that but the portfolio was overweight on a single stock hence not diversified. Again, another risk management issue. At the same time, fixed income securities have been increasing in value as rates go down and we expect an extensive rate cutting period. Furthermore, Buffet had announced his willingness to trim Apple earlier this year, months before the news was announced, during Berkshire's annual shareholder meeting. He reaffirmed during that meeting that he still loves Apple and it's a great company to invest in. Buffet has invest a majority of the Apple proceeds into US treasuries - which makes sense when most of your investors are retiring baby boomers.

[@Vix381]

@@sebastianlassus912 portfolio management, rebalancing after a huge run, says he still loves the company and the stock

[@philloucks9784]

Be careful with the upgrade cycle, many iPhone mini users aren’t upgrading their phones any time soon for larger iPad mini style phones

[@Sammy-uv1kl]

Dan every year says supercyle and iPhone sales continue to fall every year 🤡

[@Fear.of.the.Dark.]

he is such a good analyst that he failed to realize iphone 15 pro was delayed so obviously Y/Y it will show big growth. At least Bloomberg's Marc realizes that.

[@MrProTechHD]

Apple reminds me of Honda. Giving you the same thing over n over again

[@syproful]

A car with four wheels ?

[@RobertGaron]

Yes. Because it’s good and reliable.

[@tnt_pkk1311]

seems like my iPHone 12 is good as good as iPhone 16...I'll keep my 12 for now.

[@sontodosnarcos]

Same here. I'm keeping my 12 mini, which works just fine.

[@JohnPMiller]

If your iPhone 12 does what you need, there's no point in upgrading. You can replace the battery, if battery life's ever a problem. I'm a shareholder, but I'm happy to hear that your iPhone has been useful and reliable. (Sent from my iPhone 13 Mini)

[@Venc_b]

Not sure why Joanna has called out Action button as very helpful since it’s already in iPhone 15. Camera control button is new in iPhone 16

[@jackchoy6969]

I'm going to upgrade to the 16 Pro Max and I likely won't be using over 90% of the showcased features from yesterday. Why? Because I'm still on the iPhone X from 2017, the battery is dying and iOS 16 is the latest iOS I can have on the X. I'm also getting old and need reading glasses now, so the bigger the screen, the better! Apple is going to love the profits coming from us old fogies!

[@Bigshow2020-t2e]

Reporter as if apple upgrades hardware for every new model 😂😂

[@The_Viking970]

The iPhone 16 feels like nothing more than an expensive camera, with nothing truly impressive. I was expecting them to integrate more advanced personal assistant features, with Siri becoming a central focus, allowing you to navigate apps and provide what you need, or at least start acting more like ChatGPT. Instead, they just added a dedicated button that mostly focuses on taking pictures and tweaking settings. Anyway, I’m buying puts on Apple because I don’t see this making a significant impact on sales.

[@davidbest8912]

Agree go for a discontinued 15 👍

[@Vix381]

People love to hate Apple, and AAPL has laughed all the way to the bank year after year after year. I have heard these same arguments against Apple products for 20 years, and right or wrong they have yet to hold back the stock on a long term basis.

[@byrne1916]

Everything has a cycle my friend

[@FoundingFathersUSA]

I held off on 15 to get 16 because it’s designed for AI. AI is the future of software, I wanted the hardware that supports it.

[@SirGenesis206]

If Dan actually used the 18.1 beta he wouldn’t be this bullish lol. It’s ok at best.

[@hummersd]

If you say “wait until next year’s model” you’ll never upgrade. You may not need every year’s model, but Apple knows their customers well and the typical upgrade cycle, and all phones, not just Apple, can only make incremental updates every year. The battery life increasing is a key feature. Joanna needs to stop being invited to Apple events; she attempts to create zingers that always fall flat.

[@davidbest8912]

Wait for the 17 model..

[@cesarordaz139]

I’m waiting for the 35

[@vinzw5609]

Let’s wait for iPhone 18 instead (17 is probably not significantly better). I am using iPhone 14, still happy with it.

[@ARMENASSATURIAN]

Gonna pass not in a RUSH TO FALL INTO A PAYMENT PROGRAM

[@alexhu7939]

extra battery capacity? Apple says 70%! Is it real?

[@JohnPMiller]

One of the guys on my sales team used to wear a bowtie so that customers would remember him. Dan takes this to the extreme. FYI: This was one of our best salesmen.

[@Mark-ph5nh]

Dan is wrong about the phone that is same as 10 years ago!

[@musiccreation1198]

Dan...love ya, but iPhone 16 Pro is not going to generate a huge upgrade cycle. Maybe next year. 16 is "meh" at best. I was all set to buy....nope, not gonna bite on this iPhone. Yet, I agree, Apple's AI future is very, very bright.

[@appl2597]

Is CNBC going to do a review of the new Huawei MateXT TriFold ?

[@aaronwhite3119]

Lets all take a moment to thank Apple for their generous $13,000,000,000 donation to the greater good of Europe. Thank you sir. You kindness and generosity knows no bounds.

[@KungPowEnterFist]

Dan always says this years iPhone release will be a super cycle. The only reason to get the 16 is the same only reason we had to get the 15...the USB-C port. Nothing else is truly an upgrade going back several generations now.

[@RobN-x4j]

Huawei mate xt released at about the same time.

[@dvd7826]

"Folks acting like a new phone will change their life-meanwhile, they'll still be using it to ignore calls and take blurry photos of their lunch.

[@jasonhutchinson8060]

1700 bucks for a slight upgrade to the UI and Camera? I am a multi millionaire and find that absurd. Gen Pop will tell Apple to go .... themselves...

[@RaviKiran-lx2kw]

0:48 She was wrinting a Professional Note to her MOM ??..Something wrong there..

[@savasgenc1877]

She was not serious just being sarcastic :)

[@RaviKiran-lx2kw]

@@savasgenc1877 yeah right...CNBC is comedy show and its not for serious discussions :)

[@lehsu]

She said they are getting significant hardware improvements in direct opposite to the title, hmmmm?

[@hangender]

Wat. No apple is playing chess while everyone playing checkers from homeboy dan?

[@horridohobbies]

The iPhone 12 (2020) is still a very good phone. The iPhone 16 is only incrementally better. If anybody needs to upgrade their phone because it's broken or lost, then the iPhone 14 and 15 are cheaper alternatives to the iPhone 16. Apple Intelligence is more gimmicky than utilitarian, right now. I'd wait a couple of years or more before worrying about it.

[@djpuplex]

"But but it's AI"- in Peter Griffin voice.

[@drewyoung2102]

""NVDA Q2 will be a drop the mic moment for the ages""".................. u know whoooo

[@ZakiSalem-zh5gr]

"It was not the best." Joanna doesn't even provide any details but she gets to decide the new iphone "not the best"

[@SnapBackCollector211]

When Dan starts mean mugging you know he means business

[@sebastianhormann9261]

What are the other conflicts Dan has? Research: no, family no… wtf? What are the damn conflicts????

[@sunnywu2464]

Huawei released a tri-screen model, meanwhile IPhone is still at the single screen model. Huawei came with satellite communication in the last model, Iphone not yet think of that.

[@blackjackpinoko]

When you hired a boat load of H1Bs engineers only interested in stock options.

[@seattlevkk]

She's wrong - I just preordered the 16 pro mainly for AI and secondarily for hardware. I love my 12mini and size and works well so it had to be more than just hardware

[@Dptl]

These news are already priced in 😂

[@drewyoung2102]

AAPL way to expensive

[@Dptl]

@@drewyoung2102 no comments

[@adamtajyar]

That’s been the pricing for the last year too. Pricing hasn’t change much since the iPhone 11 generation except for the pro max going up $100 with the 15 pro max

[@pureland2703]

He is trying to put lipstick on iphone16.

[@avadheshbhatt1137]

799 for 60 hz display wow

[@user-qt6nn1wf2u]

I have a 13 and there is nothing about the 16 that is making me want to upgrade.

[@skyak4493]

I have an 11 and I think I will get the iPad Air to do AI stuff until I need it all the time.

[@AbaddonianG]

lol ... they are so behind . Samsung is on a trolling spree 😀

[@jimmieyoung4865]

Like Tesla, software upgrades - especially Ai - will be of some value too.

[@sdco7487]

I don't think a supercycle is happening. They will have good sales but just more of the natural year to year upgrade cycle. I don't think Joe and Jane Average consumer are goign to be as wild for AI features as these analysts think. It'll be like Siri/Alexa, etc. which was something notable for a couple of years, nowadays most people don't talk about Siri or Alexa, sure they might use it here and there but it's not like it's revolutionized their day to day life.

[@TheGuitarHerEoin]

Ives seems to model is rhetorical style on Trump's 😅

[@s1dest3p]

Dan Ives is ridiculous

[@parkerpkthn]

Dan is a sunshine pumper. Time for Tim Cook to step aside

[@scottpoll1401]

Apple is so unimpressive

[@RK-um9tu]

Apple is a complete joke. Failed new product launch, less than 5% yoy quarterly growth, markets are decline in all major product lines... Yet Apple keeps going up and Nvidia with its 122% yoy quarterly growth had its stock drop about 20%...

[@argenti14]

i am upgrading!!!

[@delsol1967]

Apple is getting old and slow .... time to jump ship

[@Ascendsean35]

Rocking my iPhone XR. Am I missing out? Can you tell my comment comes from such an outdated phone?? 😮

[@640A]

I haven't upgraded in 5yr so I'm due for an upgrade...probably in 2025!

[@cesarordaz139]

If I want a camera I’ll just buy a camera not a $1k iPhone phone

[@nicholasm.browner6651]

American consumers are going to punt and wait on the purchase on the new iPhone, unless you need it for your career or need an upgrade. The real inflation and cost of living will make them punt.

[@syedarmaghanhassan4652]

The stocl price increase is only due to the buybacks.. it is only the matter of how quickly people start to sell apple? Because then, the buybacks wouldn't help much!

[@syproful]

No AI in Europe. No reason to buy it here.

[@skyak4493]

Camera, screen, processor….

[@syproful]

@@skyak4493 like i said, no use. I’ll just wait another year till this regulation mess is fixed. If you need one, you need one. I don’t need one right now.

[@ljacobs357]

Apple is all about hype. Nothing new here. Samsung has had these AI features for a while.

[@Mr.Eeeeeeeee]

Apple makes the best mobile computers period. No one cares about Samsung.

[@ljacobs357]

@@Mr.Eeeeeeeee I do.

[@Mr.Eeeeeeeee]

@@ljacobs357You are entitled to your opinion even though 1.2 billion device owners disagree with you.

[@ljacobs357]

​@@Mr.Eeeeeeeee3.9 billion use Android phones.

[@Vix381]

Well, hype or not, Apple will make a lot of money from satisfied customers. A lot of android sales come from low end market where Apple doesn’t compete.

[@ekop1778]

GARBAGE PHONES I WANT MY OLD FLIP PHONE BACK

[@armandacosta1914]

Dan Ives is the worst at giving his price predictions. They never come true.

[@Stuff0909tube]

Well he said 235 Price Target when AAPL was at around 160. Looking at the Price now, he was not wrong.

[@clifftanch]

Let me guess: Dan Ives is bullish. /s

[@anderbeau]

I’ve owned every single iPhone and it’s getting damn hard to care… lame AF 👎🏼

[@syedarmaghanhassan4652]

If I want to edit the pixtures professionall, I'd rather use Adobe and Adobe's Intelligence (AI), rather than Apple

[@Mr.Eeeeeeeee]

The point is that people can do professional looking work right on their phones in just seconds.

[@syedarmaghanhassan4652]

@@Mr.Eeeeeeeee exactly.. this is the goal... but we are far from it.. as these things need a lot of work to be done on, to start working fine inside the phones.. we are certainly on the right path, but this is just a start..

[@Jeremias066]

Apple is boring af. Buffet selling more for sure

[@eyelovecolorado2195]

Apple is years behind Samsung. The stock is strong because Apple has a strong cult like following. Plus Apple makes so much money from other sources like apps.

[@alan0285]

And Samsung is behind many chinese brands. Just look the S Series over the last 2-3 years.

[@truckinforever985]

upgrading wife so I can get her 11 plus I have an 8 plus on the road in case I lose it who cares

[@Thenobelfan]

I am seriously going to get a cool android as a second phone … as a long time apple user for over a decade … hard for me not to be locked into the ecosystem … but the new iPhones are boring

[@SamZedder]

I think anyone with iPhone 11 or below would consider upgrading. I can’t see a large wave of users with iPhone 12 and above will upgrade yet. We already have access to AI features via 3rd party apps. Yes, it will be better to have it natively provided but it’s a big price to pay for that convenience that you won’t even get when the 16 launches.

[@paulzhang1310]

i'm still using Iphone 7+

[@otherZinc]

The lady is Wrong! I am a Z-Fold guy, yet, buying my daughter the New iPhone for the AI Features that will definitely assist her in College.

[@dr_slim_shady]

Basically Apple now depends on your iphone being “too old” in order for them to sell you a new one😂How pathetic lol

[@ManishShah3]

maybe it is time for people to go google pixel

[@BaconatorJR1]

Go home pal

[@syedarmaghanhassan4652]

Yes ❤

[@syedarmaghanhassan4652]

They should drfinitly try Samsung S22 Ultra series. They got the bwst Camera on any smartphone on the world. The ones who use it, know it

[@Mr.Eeeeeeeee]

No iPhone owners are ditching it for an Android.

[@Vix381]

Yea, better or worse, vast majority of Apple users will remain Apple users.

[@syedarmaghanhassan4652]

How Naive is it to think, that 300 Million iPhones have not been updated in the kast 3 years😅 and to assume that people will only buy Apple. Are the other smartphone companies sleeping? Are there no other phones selling in the market? Are there no consumers eho don't want to try anything else than apple now??? 😅😅😅😅😅

[@Vix381]

Apple does have a high retention rate, so there must be a lot of people who are satisfied with the product.

[@bobbray9666]

It's the Apple ecosystem that retains customers. To think many will leave Apple is naive.

[@far1762]

Crezy, ca, contează, telefonu, eu, zyk, nu, și, fac, forte, multe, etc,, va, vad, simultan, munca, burse, sau, diferite, muncyvydeo,, nu, e, pok reformat, dar, conduk, lumea,... Paxus, populus,, hayde,, fy, om, ok😮😅

[@far1762]

Mențineți, motoru, a ți, b,. . Ok😮👁️👁️🙄🤨👌

[@far1762]

Dacă, va yk, ce, vad, va, veți, supără, mai, byne, ramyn, la, capătul, key,... Ok🤞🤔🙄🤨👁️👌

[@richardmaynardd]

The iPhone 16 product launch proved how far ahead Google is with its AI software than Apple. Ives does not realise the truth. Apple is losing its dominance over smartphones.

[@pokerallstar]

1

[@SonGoku_dk57]

Apples go stale quickly due to a process called oxidation..!🫡