Monday, September 12, 2022 09:35 AM
  • Apple analysts are positive on the company as pre-order data for the latest versions of its iPhone point to strong interest and demand.
  • Shares up 1.7%, with the stock outperforming other major technology and internet stocks. The Nasdaq 100 is up 0.7%.
  • JPMorgan (overweight, PT $200)
    • “iPhone demand indications are strong following the launch, and while similar to last year the mix continues to be more favorable towards Pro models, lead times for the two Pro models are already more extended relative to last year”
    • Lead-time based demand indications for the Apple Watch Ultra are “quite strong as well”
  • KGI Securities (outperform, PT $183)
    • Pre-order data shows that the iPhone 14 Pro Max is the best-selling model, and that it is doing better than the iPhone 13 Pro Max did at this point; this confirms “the unchanged pricing (both in US and China, based on local currencies) of the iPhone 14-series is positive for its future sell-through”
  • Wedbush (outperform, PT $220)
    • “So far demand and orders for iPhone 14 are tracking slightly ahead of iPhone 13 and are tracking ahead of our expectations out of the gates”
    • The popularity of Pro and Pro Max models is “a clear positive” for average selling prices