Apple started taking preorders for its latest handsets last Friday, with actual sales beginning this Friday. And the demand seems to be strong, reports Investor’s Business Daily.
“The data continues to point to robust demand for the iPhone 14 Pro and Pro Max, which could have a materially positive impact for both mix and margins,” Evercore ISI analyst Amit Daryanani said in a note to clients Monday. Daryanani rates Apple stock as outperform with a price target of 185.
So far there’s been a bit of a mixed signal as to how well the iPhone 14 line-up is selling. On a bright note, iPhone 14 series are so popular in China that a deluge of pre-orders crashed the tech giant’s online services and pushed shipments out five to seven weeks beyond the September 16 launch date for the Pro and Pro Max, the two most premium models, reports The South China Morning Post. On another bright note, according to various analyst notes combed by Yahoo Finance, sales of Apple’s newly announced products (the iPhone 14 line-up, a new Apple Watch line-up, and AirPods Pro 2) are strong.
However, analyst Ming-Chi Kuo says that the iPhone 14 Pro and iPhone 14 Pro Max have seen “neutral” and “good” pre-order results compared to the iPhone 13 Pro and iPhone 13 Pro Max. He does add that delivery wait times of more than four weeks may indicate good demand for the new high-end devices.
Kuo says it’s”unclear” whether Apple will increase shipment forecasts of its Pro models, but there’s a “growing” chance that it will cut orders of the iPhone 14 and iPhone 14 Plus, which account for around 45% of iPhone 14 shipments.
