Apple stock (NASDAQ: AAPL) has remained largely flat over the past month, underperforming the Nasdaq-100, which gained about 4% in the same period.

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.

The new lineup of Apple iPhone 16 smartphones is officially available from AT&T, Verizon, Best Buy and many more retailers. These new phones include the iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max.

As for Apple’s main high-end phone competition, the Samsung Galaxy S24 Ultra fell well short of the iPhone 16 Pro Max, clocking 16 hours and 45 minutes of battery life, despite having a larger 5,000mAh cell (compared to the iPhone 16 Pro Max’s 4,685mAh).

Apple (NASDAQ:AAPL) edged 2% higher by early afternoon trading Monday as data shows week-over-week delivery times for iPhone 16 Pro and Pro Max models are holding steady. iPhone 16 delivery lead times have trended below historical results,