JPMorgan: iPhone 17 demand tracking stronger than iPhone 16
JPMorgan analysts said in a recent note that demand for Apple’s (NASDAQ:AAPL) iPhone 17 appears stronger than the first-week demand for last year’s iPhone 16 series. The conclusion comes from tracking delivery lead times across key global markets.
Lead times show higher demand for base and Air models
According to JPMorgan, delivery lead times in the U.S., China, Germany, and the UK were running “modestly ahead” of the iPhone 16 during preorder week. Demand was especially strong for the base iPhone 17 and the newly launched iPhone 17 Air, which replaces the 16 Plus as Apple’s thinner, lightweight option.
Early data showed demand leaning more toward base models rather than Pro models. Analysts, however, cautioned that this does not necessarily mean Pro and Pro Max demand is weaker than last year. But if this trend persists, base iPhone sales could outpace internal expectations.
Delivery lead times highlight demand strength
Delivery lead times measure the waiting period between placing an order and receiving the device. Longer wait times suggest higher demand.
In the U.S., which accounts for about a third of Apple’s global shipments, the iPhone 17 base model had a lead time of four days, while the Air model had seven days. The iPhone 17 Pro showed four days, and the Pro Max stretched to 21 days.
By contrast, the iPhone 16 and 16 Plus had zero wait times during preorder week last year. The 16 Pro showed six days and the Pro Max 20 days.
New Air model faces challenges in China
Apple unveiled the iPhone 17 lineup last week, with the ultra-thin Air model positioned to compete with rivals like Samsung. However, the Air model faces regulatory delays in China due to its eSIM-only design.
Apple’s stock dropped after the launch, with investors disappointed over the lack of new artificial intelligence updates. Still, stronger early demand could improve the company’s sales outlook at a time when it is struggling with slower growth in China.
