Despite these setbacks, some analysts believe Apple can recover. The company still has a strong consumer base, with two billion devices in use and about 1.2 billion unique users. The success of the Vision Pro, Apple's mixed reality headset, demonstrates the company's ability to introduce new products that consumers want. However, analysts warn that Apple needs to focus on its AI strategy to stay competitive.
Key takeaways:
- Apple has been hit with a nearly $2 billion fine from the EU for restricting competition for music streaming services and has seen a 24% drop in iPhone sales in China in the first six weeks of 2024.
- The company has also recently cancelled its self-driving car project, "Project Titan", to focus on AI, and has been criticized for falling behind in its AI efforts.
- Despite these setbacks, some analysts believe Apple could bounce back, citing its large user base and ability to develop new products that consumers want.
- However, there are concerns that if Apple does not improve its AI services, it could be surpassed by other companies such as Nvidia.