Apple: Strong iPhone 14 Pro/Pro Max is Offsetting Weak 14/Plus Demand – KeyBanc
© Reuters. Apple (AAPL): Strong iPhone 14 Pro/Pro Max is Offsetting Weak 14/Plus Demand – KeyBanc
By Senad Karaahmetovic
A KeyBanc analyst has reflected on Apple’s (NASDAQ:) iPhone 14 launch, which he believes is “mixed but in line with expectations.”
Carrier checks showed strong demand for iPhone 14 Pro/Max models and weaker demand for iPhone 14/Plus models.
“Carrier store feedback indicates that the lower demand was likely attributable to limited upgrade specs vs. the iPhone 13 series, and promotional activity related to the iPhone 13 Pro/Max. Aggregated carrier store inventories for the iPhone 14 are well under one DOI, with much of the inventory being accounted for the iPhone 14,” he wrote in a note.
If you order the Pro or Max then you will likely wait between one to four weeks and three to five weeks, respectively. On the other hand, the iPhone 14 is available in most shops.
The checks were neutral for Apple suppliers in KeyBanc’s coverage. The analyst reiterated his view that Broadcom (NASDAQ:), Qorvo (NASDAQ:), Qualcomm (NASDAQ:), Skyworks Solutions Inc (NASDAQ:), and Cirrus Logic (NASDAQ:) are seen as beneficiaries from content and unit growth in the second half of the year.