Apple will report Q421 earnings on Thursday, October 28th, right around 4:30pm ET. Analysts see strong iPhone 13 demand ahead of the report.
Evercore ISI analyst Amit Daryanani observes that lead times for the iPhone 13 remain elevated in most countries, with lead times stretching out for most models.
Daryanani notes that lead times are shorter for the base iPhone 13 and for the iPhone 13 Mini, which he thinks could mean a strong product mix skewed to the higher end models, driving higher margins for the company overall.
Baird analyst William Power says his checks find that iPhone 13 demand remains strong, supported by a combination of growing consumer interest in 5G and record carrier subsidies – up to $1,000 in trade-in value from AT&T, Verizon, and T-Mobile. He sees multiple reasons for the carriers’ aggressive promotions on the new phones.
He says competition for customers is part of the equation, but also notes that a shift to 5G “should improve customer experience,” while opening up new revenue opportunities. He also says a switch to 5G provides the carriers with “significant network efficiency benefits.” Adds Power: ” We believe this could be part of the multi-year iPhone upgrade tailwind for Apple.”
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