01:00 PM EDT, 07/10/2024 (MT Newswires) -- (Updates with details throughout)

Apple ( AAPL ) is looking to ship at least 90 million iPhone 16s in the second half of the year, driven by demand for the AI services from its new lineup, Bloomberg reported Wednesday.

The company told partners and suppliers that it's aiming for about 10% growth in shipments of new iPhones compared to their predecessors, a person familiar with the matter told Bloomberg.

Apple ( AAPL ) shipped about 81 million iPhone 15s in the latter half of 2023.

Apple ( AAPL ) expects the addition of new artificial intelligence tools to drive demand for iPhone 16 when it launches later this year.

Earlier today, the company said it would include Microsoft ( MSFT )-backed (MSFT) OpenAI's ChatGPT into upcoming updates of iPhones as part of upgrades called Apple Intelligence.

Apple ( AAPL ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 231.05, Change: +2.36, Percent Change: +1.03