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UBS and Morgan Stanley have both reported concerns regarding the demand and lead times for Apple's iPhone 16. UBS noted that the situation has not improved, particularly for high-end models, and iPhone 16 wait times are shorter than last year but the gap at the high-end continues to grow. Morgan Stanley, which has an overweight rating and a price target of $273 on Apple, highlighted that iPhone 16 lead times are tracking lower than the past three iPhone cycles, despite improved supply. The average iPhone 16 lead time in the U.S. averaged 15.2 days as of September 24. New Street expects a 10% miss on shipments due to poor reception and disappointing innovation.
Not exactly the start that the Apple iPhone 16 'Supercycle' cheerleaders expected. "Apple iPhone 16 lead times currently trend below the last three iPhone cycles" "The average iPhone 16 lead time in the U.S. averaged 15.2 days, as of Tuesday, Sept. 24. At this point last year,…
New Street On $AAPL: 'We expect a 10% miss on shipments' "iPhone 16 started shipping on Friday. Early datapoints suggest reception is poor, with disappointing innovation, and a late rollout of Apple Intelligence. In today’s work, we provide our perspective on the upcoming iPhone…
$AAPL - NEW STREET ON APPLE: 'WE EXPECT A 10% MISS ON SHIPMENTS' "iPhone 16 started shipping on Friday. Early datapoints suggest reception is poor, with disappointing innovation, and a late rollout of Apple Intelligence. In today's work, we provide our perspective on the…