Analysts say that two weeks after Apple’s (AAPL) iPhone 14 came out, demand is still high for the Pro models but not so much for the regular models. Still, the fact that the more expensive Pro models sell well is good news for Apple’s profit margins.
After a week of preorders, the iPhone 14 series went on sale on Sept. 16. The cheapest iPhone, model 14, costs $799. The Pro Max starts at $1,099, while the Pro 14 Pro starts at $999. The regular iPhone 14 and the iPhone 14 Pro both have 6.1-inch screens, but the iPhone 14 Pro Max has a 6.7-inch screen. The Pro models are faster than the base models and have better cameras.
In a note to clients on Sunday, JPMorgan analyst Samik Chatterjee said, “Demand for the Pro models of the iPhone is still quite high, but demand for the base models is weaker than it was a year ago.” “14 Pro and Pro Max lead times are tracking in line with better than 13 Pro and Pro Max lead times, but base model lead times are shorter,” he said.
Apple iPhone 14 Pro Models Could
JPMorgan is keeping an eye on when the iPhone 14 will be available in key markets such as the U.S., China, Germany, and the U.K. About 35% of all iPhones are sent to the U.S. China is about 15% of the total. Germany, the United Kingdom, and France each makeup about 5%.Chatterjee said again that he thinks Apple stock is overweight and has a price target of $200.
Apple stock goes up because sales of the iPhone 14 are good.
Today, Apple stock went up 0.2% and ended the day at 150.77.
Amit Daryanani, an analyst at Evercore ISI, said that demand for the iPhone 14 is still high, especially for the Pro models, but that the time it takes to ship the phones is getting shorter.
In a note to clients on Friday, he said, “The data continues to point to strong demand for the iPhone 14 Pro and Pro Max, which is likely to have a materially positive effect on both mix and margins.”Daryanani kept his outperform rating and a price target of $190 for Apple stock.
Apple and the major wireless carriers in the U.S. have started a big marketing push for the iPhone 14 family. Samsung, a competitor, is heavily advertising its Galaxy Z Flip4 smartphone, which has a screen that folds out. Alphabet’s (GOOGL) Google unit will show off its Pixel 7 and Pixel 7 Pro smartphones on October 6.
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