According to various analyst notes, demand for Apple’s iPhone 14 series and Apple Watch Ultra appear to be strong. JPMorgan analyst Samik Chatterjee also sees a favorable iPhone mix as demand leans toward Apple’s new iPhone 14 Pro and flagship iPhone 14 Pro Max. Apple Watch mix looks strong as well, with demand high for Apple Watch Ultra.
Brian Sozzi for Yahoo Finance:
In a note to clients, Chatterjee wrote:
“iPhone demand indications are strong following the launch, and while similar to last year the mix continues to be more favorable towards Pro models, lead times for the two Pro models are already more extended relative to last year. Delivery lead times have already reached extended lengths one day after launch vs. extended lead times one week post-launch for the iPhone 13. Amongst the remaining products, lead-time based demand indication for the Apple Watch Ultra is quite strong as well.”
“Globally, Watch Series 8 and Watch Ultra lead times tracked at 28 and 34 days, respectively, while Watch SE was less popular at 8 days, suggesting that there is strong consumer interest in the Watch Ultra. In all but one region, AirPods Pro 2 lead times tracked to the first available date (Sept. 23).”
MacDailyNews Note: Chatterjee maintains an Outperform rating on Apple’s stock with a $200 price target.
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