Shorter first delivery time doesn't reflect demand, says Morgan Stanley, which upgrades Apple (AAPL.US) to "overweight" and says the next 10 days are key

Market VisionWednesday, Sep 18, 2024 10:00 pm ET
1min read

Morgan Stanley has given Apple (AAPL.US) an "overweight" rating and set a target price of $273. Analyst Erik Woodring noted in a Wednesday report that current iPhone demand data does not reflect future demand, and it is too early to judge iPhone shipments in the next 12 months. He wrote: "The delivery time for iPhone 16 is shorter than last year, but at this early stage, the delivery time as a proxy indicator for demand is not very predictive, and the change in the next 10 days is more important." The pre-orders of the iPhone 16 series in the first weekend were lower than expected, and it was reported that Ming-Chi Kuo, an analyst at Tianfeng International, said that the pre-orders of the iPhone 16 series in the first weekend were estimated to be about 37 million units, a year-on-year decrease of about 12.7%, and the key was the lower-than-expected iPhone 16 Pro series. Kuo pointed out that the delivery time of the iPhone 16 Pro series was significantly lower than that of the 15 Pro series, and in addition to the increase in pre-order inventory, the key was the decrease in the first weekend sales compared to last year, which indicated that demand was lower than expected.

Comments



Add a public comment...
No comments

No comments yet

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.