Lead times from order to delivery of Apple’s high-end iPhone 15 Pro models have shortened as supply begins to catch up with demand, analysts said.
Patrick Seitz for Investor’s Business Daily:
In a note to clients Sunday, JPMorgan analyst Samik Chatterjee reiterated his overweight, or buy, rating on Apple stock. He has a price target on AAPL stock of 230.
Chatterjee said his firm’s global product availability tracker shows that iPhone 15 delivery lead times have moderated after two weeks of sales. That is “very typical for the lead-time trajectory when compared to prior years,” he said.
Most of the decline in lead times for the iPhone 15 series is happening with the premium Pro models.
“The average lead time for the high-end models is tracking to 37 days vs. 35 days in the same week last year with the iPhone 14 series,” Chatterjee said.
On Friday, Evercore ISI analyst Amit Daryanani reiterated his outperform rating on Apple stock with a price target of 210.
In a note to clients, Daryanani said the iPhone 15 Pro and Pro Max models are seeing lead times shrinking in China but are unchanged in the U.S.
“The data points to robust demand for the iPhone 15 Pro and Pro Max,” he said.
MacDailyNews Take: As expected.
More differentiation for the flagship iPhone is smart. It will increase iPhone ASP as it tempts would-be iPhone Pro buyers to move up to the iPhone Pro Max model. – MacDailyNews, May 9, 2023
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
