HomeInvesting NewsPre-order demand for the iPhone 14 has been "strong," moving "slightly ahead"...

Pre-order demand for the iPhone 14 has been “strong,” moving “slightly ahead” of the iPhone 13.

Published on

Apple (NASDAQ:AAPL)

Wedbush Securities, an investment company, stated that the demand for Apple’s (NASDAQ:AAPL) new iPhone 14 appears to be “strong” and is tracking ahead of estimates. The new smartphone became available for pre-order on Friday.

Analyst Dan Ives, who has an outperform rating and a price target of $220 on Apple (NASDAQ:AAPL), pointed out that the delivery timeframes for several Pro models have now been pushed out to the middle of October and that the delivery times for most pre-orders are now between three and four weeks away.

Ives wrote to clients that “Demand and orders for the iPhone 14 are outpacing our initial projections and moving slightly ahead of those for the iPhone 13.” He also mentioned a “hefty” mix between the iPhone 14 and the iPhone Pro Max, which would benefit Apple (NASDAQ:AAPL) average selling price.

Ives said that they anticipate this high Pro/Pro Max mix to continue, with China also being a huge sway factor as more customers in this vital area migrate to the Pro model.

In early trading on Monday, shares of Apple (NASDAQ:AAPL) increased by about 2% to reach a price of $160.35.

During the week that just ended, Apple (NASDAQ:AAPL) presented its iPhone 14 product line, together with updated models of the Apple Watch and AirPods Pro.

Ives further stated that Apple (NASDAQ:AAPL) initial order for 90 million iPhone 14 units has “stayed firm” despite the weakening of the global economy and that the company will likely sell at least 220 million iPhone units in fiscal 2023. This is because almost 25% of the 1 billion iPhone users worldwide have not upgraded in 3.5 years, and demand in China for high-end devices continues to be strong.

Recently, several Republican senators issued a warning to Apple (NASDAQ:AAPL), stating that the tech giant would face more scrutiny from Congress if it gets memory chips for the iPhone from Yangtze Memory Technologies.

Featured Image – Megapixl © Fotofreaks

See Disclaimer Please

Latest News

Recent Surge in Tesla Stock: Exactly What Caused It?

Tesla Stock (NASDAQ:TSLA) As of 11:30 a.m ET on Friday, Tesla stock was up 2.3%...

Here’s Why Carvana Stock Fell Quite So Much as 23.7% This Week

Carvana Stock (NYSE:CVNA) According to data provided by S&P Global Market Intelligence, Carvana stock fell...

Here’s Why Tellurian Stock Is Rising Again Today

Tellurian Stock (NYSEMKT:TELL) Tellurian stock was up 6.5% as of 11:06 p.m. ET today after...

Is It Time to Buy Chewy Stock?

Chewy Stock (NYSE:CHWY) Pet supplies are one of the few consumer goods that do well,...

More like this

2 Casino Stocks You Should Consider

With a recession on the horizon, investors must be more selective than ever. Analysts...

(Exxon Mobil Stock) Exxon Ceo Warns Biden Administration Against Restricting Fuel Exports

Exxon (Exxon Mobil Stock) opposes calls for oil corporations to reduce international exports and...

Apple Stock Loses $120 Billion Because of a Rare Downgrade

Apple stock just took a significant knock after it was once considered to be...

Meta Stock Tops Morningstar List of the Most Undervalued Stocks 

Morningstar compiled a list of the most undervalued stocks among those with a large...

Hd Stock up as Foundation to Contribute Up to $1 Million to Aid Communities Affected by Hurricane Ian

HD stock was trading at $280.23 as of 12:55 PM EDT. The Home Depot Foundation...

Making the Cut: Micron (Micron Stock)

Micron Technology Inc (Micron Stock) latest outlook brings expectations back to normal, although the...