<ul><li>Jefferies analyst downgraded Apple to a 'hold' rating due to concerns about disappointing iPhone 16 sales, despite new artificial intelligence features.</li><li>Analyst Edison Lee believes that the high expectations for iPhone 16/17 are premature and that smartphone hardware needs rework before being capable of serious AI.</li><li>Lee forecasts weaker-than-expected initial demand for iPhone 16 and predicts only 2.5% growth in its life cycle volume.</li><li>Apple's global supply chain procurement chief, Dan Rosckes, is retiring after 24 years with the company.</li></ul>

Jeffries analyst claims iPhone 16 sales will disappoint despite new AI features

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