As the year-end approaches, analysts at JPMorgan observed that $Apple (AAPL.US)$ the delivery times for the iPhone 17 series have started to shorten, indicating a noticeable cooling in demand for the new iPhone models.
The delivery time for the iPhone 17 has significantly shortened.
Morgan Stanley analyst Samik Chatterjee stated in a report that the supply of iPhones is beginning to catch up with demand, which has led to a "shortening of delivery times for the iPhone 17 series" in recent weeks.
The iPhone 17 was officially released on September 10 this year, and it has now entered the 14th week. In the first month following its release, the average delivery cycle once reached 24 days, which is significantly longer than the delivery cycle during the initial release period of last year's iPhone 16.
Chartrij observed that the delivery time for the entire iPhone 17 series has been shortened by 3 days compared to the previous phase, with the current average delivery time being only about 3 days, which is comparable to the same period last year for the iPhone 16 series.
Chartji pointed out that based on their past observations, Apple's new smartphones typically reach a "supply-demand balance" by the end of the year, and the iPhone 17 series seems to follow this trend as well. Previously, due to demand fluctuations, the delivery period for the iPhone 17 series had been extended in the quarter following its release, but the gap is currently narrowing.
Demand across the entire series is slowing down.
Specifically, the demand for all versions of the iPhone 17 series has slowed down.
JPMorgan Chase added that even the key driver of this sales cycle—the base model iPhone 17—has seen its delivery time drop to single digits.
Chartji pointed out that compared to the previous phase, the delivery time for the basic model has decreased significantly, shortening by 6 days compared to a week ago, while the iPhone 17 Air and Pro versions have each been shortened by 1 day, and the Pro Max has been shortened by 2 days.
Chartji also stated that the strong sales momentum of the iPhone 17 series is expected to continue supporting higher sales and revenue for the remainder of its product cycle. Chartji has given Apple stock a "buy" rating and set a target price of $305, which is 12% higher than the current stock price.
Editor/Doris