This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPED8B2FG_M.jpg
Ng’s research note on Monday highlighted that the pricier Pro models are experiencing longer shipping times compared to the more affordable base models of the smartphone. This suggests a supply-demand imbalance where demand is surpassing supply. However, Ng also cautioned about potential supply chain constraints, particularly for the Pro Max model. He maintains a “Buy” rating on Apple’s stock with a price target of $216.
Apple’s website confirms some of these delays. It shows that deliveries for certain colors of the iPhone 15 Pro Max are postponed until mid-November. However, Apple has not yet commented on this matter.
The success of the new iPhone is crucial for Apple’s financial performance. In 2022, iPhone sales accounted for $205.5 billion out of Apple’s total revenue of $394.3 billion. Therefore, any disappointment in sales could significantly impact the company’s earnings.
On Friday, Amit Daryanani, an analyst at Evercore ISI, shared similar observations in his note. He pointed out data indicating strong demand for the iPhone 15 Pro Max. However, he also noted a slight dip in demand for the Pro/Plus models compared to last year. This could affect overall sales volumes but might be somewhat offset by higher prices for other models. Daryanani rates Apple as “Outperform” with a $210 price target.
Despite this robust demand and positive ratings from analysts, Apple’s shares were down slightly by 0.2% on Tuesday to $177.59, even though they have risen by 37% this year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
