Apple Inc’s AAPL iPhone 14 models are seeing a dip in delivery lead times compared with the previous iPhone 13 models.
What Happened: Lead times for the iPhone 14 Pro models moderated in the sixth week of the Apple Product Availability Tracker by JPMorgan compared with the fifth week.
Lead times for the iPhone 14 Pro Max are at par with the Pro, according to JPMorgan, reported Apple Insider.
The timeline of the moderation is reportedly similar to that of iPhone 13 models irrespective of the supply constraints.
In comparison with iPhone 13, the lead times are shorter for iPhone 14 and lower for those of the Pro and Pro Max models, according to the report.
Delivery lead time, the period between when an order is placed and is delivered, is considered a crucial supply chain and inventory metric.
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Why It Matters: The delivery at-home timing for iPhone 14, Plus, Pro and Pro Max are 2,2,29 and 30 days, respectively, and have decreased from 2,4,32, and 34 days compared to a week ago, noted Apple Insider.
Chinese lead times are reportedly below the global average for the Pro model. Lead times for the Pro and Pro Max are at 22 and 29 days, respectively, in the Asian country.
The lead times of one day for the iPhone 14 and Plus in China are lower than 12 days for the iPhone 13 and Mini in the country, according to Apple Insider.
JPMorgan forecasted revenue of $90 billion for Apple beating a Wall Street consensus estimate of $88.6 billion. In its report, the bank estimated the Tim Cook-led company will ship 55 million iPhones versus a consensus of 52 million for the period, reported Apple Insider separately.
Morgan Stanley analyst Erik Woodring said this month that slowing growth in the U.S. and China dragged down App Store sales in recent months, which will weigh on the company’s overall Services segment growth.
Price Action: Apple shares closed 3.2% lower at $138.38 in the regular session on Friday, according to data from Benzinga Pro.
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