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Expect a little longer than last year to get your hands on some of Apple’s latest gadgets. Delivery times for the iPhone 14 Pro and Pro Max from the tech giant have already exceeded those for the 2021 13 Pro models. This could be a good sign for the iPhone maker, indicating that demand for more expensive products remains resilient despite tough inflation and a slowdown in consumer spending, according to data released by analysts. “To summarize, post-launch signs of demand for the iPhone are strong, and while the ratio is still more favorable for the Pro models, as was the case last year, delivery times for the two Pro models have already increased compared to last year.” writes JPMorgan Chase. Samik Chatterjee in a note to clients on Sunday. To be sure, the waiting time for the iPhone 14 is a little less than last year, but the delays for the 14 Pro and Pro Max have already reached mid-October and continue to grow. In the United States, buyers should expect a delay of five to seven weeks, compared to three to five weeks for the iPhone 13 Pro and Max last year, Baird said. JPMorgan Chase estimates delays of 35 and 42 days for the 14 Pro and Pro Max, respectively. JPMorgan also reports that the Chinese market is perhaps the strongest indicator of robust demand amid a slowdown in the macroeconomic environment, with lead times ranging from 50 to 57 days. Globally, buyers can expect an average of 30 and 39 days for the 14 Pro and Pro Max, respectively, compared to 26 and 27 days, according to Bank of America. “We attribute this difference to higher demand rather than supply,” wrote Credit Suisse analyst Shannon Cross, citing a smaller impact on supply chain revenue compared to last year and the push for installment plans encouraging customers to take a two-year upgrade cycle. According to data compiled by Credit Suisse, 94 out of 160 Pro and Pro Max SKUs were delayed by at least 10 days within 30 minutes of Apple’s pre-order launch. This is compared to 70 out of 160 detained for at least 12 days in 2021. The data shows strong demand not only for the iPhone Pro, but also for the Apple Watch Ultra, according to JPMorgan Chase. “While we don’t have a perfect understanding of the potential difference in deliveries compared to last year, we think the early numbers are broadly stable, especially given the macro uncertainty in consumer spending,” said Baird’s William Power. —Michael Bloom of CNBC provided the coverage.
Credit: www.cnbc.com /