Apple announced its new iPhone 16 series smartphones last month. The devices have been on sale for a while now, but they come with one of their main selling points, AI. Apple Intelligence is coming this month,

Apple had been counting on new artificial intelligence features to make the iPhone 16 a major hit. But pre–sale estimates point to a more muted early response than Apple had hoped.

Investment bank JP Morgan analysts say that Apple Intelligence is not yet drawing iPhone users to upgrade, and demand for iPhone 16 Pro models is weaker than it was with the iPhone 15 Pro range.

Recently, Apple unveiled its latest phone, the iPhone 16. While it will provide users with a phone that is ready for artificial intelligence (AI) features, it may not be all that exciting. But looks can be deceiving, and early accounts are that the new iPhone is doing just fine. Here's why it could be a big growth catalyst for the business.

Related: Huawei answers Apple's iPhone 16 with the first trifold phone Turning now to other business headlines…It appears that Apple may not have a big winner with the new iPhone 16. The device began selling in late September and early sales aren’t living up to analysts expectations.