Demand for iPhone Pro has grown-JPMorgan
2022.12.27 10:17
Demand for iPhone Pro has grown-JPMorgan
Budrigannews.com – JPMorgan investigators kept an Overweight rating on Apple Inc (NASDAQ:) shares in a note to investors on Tuesday, telling them that the supply of iPhone Pro models is still improving slowly.
The analysts penned, “In Week 16 of our Apple Product Availability Tracker, supply for the iPhone Pro models continues to improve slowly, with lead times moderating further in China, and a majority of SKUs are now available for in-store pickup across all geographies, including China for the first time since product launch.” This is the first time that SKUs have been available for in-store pickup since the product’s launch.
They added that “supply is improving and inching slowly towards parity with demand” and that the lead times for the Pro models are now matching those before the Covid-19 outbreak in Zhengzhou, China. Despite the fact that they point out that “Apple is much further along in reaching parity between iPhone demand and supply in the year’s past at this time in the year,” they also state that this is typical.
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“Lead times for Pro models have stabilized, as shown by U.S. Tracker. They added, “The lead times for the iPhone 14 and iPhone 14 Plus ticked up to 5 days each in the United States, compared to 1 day prior. This is in line with the timing for the iPhone 13 and 13 mini last year, while the lead times for the Pro and Pro Max tracked at 27 days, compared to 25 days prior.”
“Compared to in-store, the iPhone 14 and 14 Plus are available for same-day pickup, and most SKUs of the Pro and Pro Max models are now available for same-day pickup, a significant improvement over two weeks ago when there were no available SKUs.”
Additionally, the analyst stated that China base iPhone 14 and iPhone 14 Plus lead times have increased to 6 days, with lead times decreasing by 9 days in JPMorgan’s China Tracker.
“delivery timing for the 14 and 14 Plus tracked to 5-6 days (vs. 1-2 days prior), in line with lead times for the 13 and 13 mini last year,” the analysts stated. “delivery timing for the 14 and 14 Plus tracked to 5-6 days (vs. 1-2 days prior).”
At the time of writing, Apple shares are down 1.7 percent.
