Apple iPhone sales have dropped by 10% when compared to the same period this time last year. This has led to a drop in revenue by 4% and highlights the company's weak position in China. In comparison, Samsung has posted much healthier results and this has led to some speculation.

Apple has posted its latest results for the first quarter of 2024 and although it's only the beginning of the year, it's not a great start. With a drop in revenue of 4% this could be an indication of where the market is going for Apple this year, especially when compared to its main rival Samsung.

The latest information from Samsung shows the company increased its revenue by almost 13% year on year for the first quarter. Analysts speculate that this is due in part to Samsung's innovations with AI technology and AI features in its smartphones.

Apple, on the other hand, has been somewhat reserved with developing AI technology. Siri, for instance, hasn't had a meaningful update for almost a decade relative to what AI can now do.

Another issue seems to be the fact that people are now holding on to their phones for much longer. With contracts ranging from 24-48 months, many people tend not to upgrade. Critics have also claimed that there just isn't enough of a compelling reason to upgrade their phones as often anymore due to how incremental the updates are.

Having said that, the market seems to be taking this information pretty well. Investors are waiting for Apple's conference where the company is set to outline its AI strategy.

Check out the video linked below.