JP Morgan Analyst Samik Chatterjee maintained an Overweight rating Apple Inc (NASDAQ:AAPL) with a price target of $265.

In the third week of Chatterjee’s Apple Product Availability Tracker, delivery times show trends that, if sustained, explain the weaker delivery times for the Pro models in the first few weeks as just a deviation due to a combination of a better supply mix and. .. He noted that there is a lag in the uptake of momentum from high-end consumers awaiting the release of Apple Intelligence.

The analyst said overall lead times have moderated as expected after peaking in the second week.

Also Read: Apple iPhone to account for 96% of sales in 2025, say analysts: A safer bet than AI-heavy Amazon, Alphabet, Microsoft, Meta?

Still, lead times for Pro models remained stable in the third week, in contrast to the typical moderation in previous years.

Base models led moderation overall for the iPhone 16 series last week, while lead times for Pro models remained stable; iPhone 16 (base model) with seven days of moderation (compared to one day of moderation from the second to third weeks last year for the iPhone 15), with 11 days of moderation for the Plus model (compared to one day of moderation of the second to the third week). last week for 15 Plus), but lead times for Pro and Pro Max remained stable last week, compared to moderation of 7 days and 9 days from week two to week three for 15 Pro and Pro Max, respectively.

Although the overall lead times for the iPhone 16 models are still lower compared to last year’s iPhone 15, the narrowing of the gap between the two groups (base vs. Pro) compared to the previous week and the consistent lead times for the Pro models highlight this This It is likely that the initially weaker demand dynamics for the Pro models will correct as the release of Apple Intelligence approaches.

According to Chatterjee’s US Tracker, delivery times for Pro models stabilized, while delivery times for base models were moderate. The US accounts for about 32% of iPhone shipments.

According to the analyst’s China Tracker, delivery times fell dramatically on the 16 Plus and moderately on the 16, while remaining stable on the Pro models. China accounts for about 20% of iPhone shipments.

According to its Europe Tracker, lead times for base models were moderate, while Pro lead times were stable, similar to other regions. Germany and the United Kingdom each account for around 5% of iPhone shipments.

Price promotion: AAPL shares were up 1.81% at $231.92 at last check on Monday.

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This article: Apple’s iPhone 16 Pro demand correction in sight: Analyst highlights delivery trends in global markets originally appeared on Benzinga.com

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