Apple’s new iPhone 14 series became available for pre-order last Friday. Investment firm Wedbush Securities describes demand for the new iPhone lineup as “robust” and tracking ahead of expectations.
Chris Ciaccia for Seeking Alpha:
Analyst Dan Ives, who has an outperform rating and a $220 price target on Apple, noted that the delivery times for many Pro models have now been pushed out to mid-October, with most pre-orders now seeing delivery times between three and four weeks out.
“So far demand and orders for iPhone 14 are tracking slightly ahead of iPhone 13 and are tracking ahead of our expectations out of the gates,” Ives wrote in a note to clients, adding that there is a “very heavy” mix towards the iPhone 14 and iPhone Pro Max, which would benefit Apple’s average selling price.
“We expect this heavy Pro/Pro Max mix to continue with China also a major sway factor as more consumers in this key region head to the Pro model,” Ives added.
Ives [wrote that] almost 25% of the 1B iPhone users across the world have not upgraded in 3.5 years and demand in China for the high-end devices continues to remain strong.
MacDailyNews Take: Obviously, expectations of iPhone success continue to drive AAPL.
See also: JPMorgan: New Apple iPhones and Apple Watches are off to impressive start – September 12, 2022
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The iPhone 14 may not be a true upgrade but it still is better than the S22+ and S22 which are major downgrades from the S22 Ultra which in my opinion is no match for the iPhone 14 Pro Max.