JPMorgan and BofA reported outpacing demand for new iPhones. What's up with Apple stock?

Early signals on the delivery dates of Apple's next-generation smartphones point to a moderately faster set of pre-orders than was the case a year ago with the iPhone 16 series. The greatest interest is noted in the base model and the slim Air version, although some analysts point out that it will take longer to fully evaluate. The company's shares rose after the first information about the level of demand, but remain below the level recorded before the presentation of new gadgets.

JPMorgan has recorded a faster set of applications for Apple's next-generation smartphones compared to the launch of the previous lineup. "Although little time has passed, delivery timelines show that demand for all new models introduced on September 9 is slightly ahead of the iPhone 16 series," Samik Chatterjee, an analyst at the investment bank, wrote on Sunday after examining order fulfillment times in key markets including the U.S., China, Germany and the U.K. He is quoted by Barron's as saying.

According to the analyst, the highest interest is seen in the base version of the iPhone 17, as well as the slim Air model.

Chatterjee reiterated a buy recommendation on Apple stock with an "Overweight" rating.

Analysts at BofA Securities have conducted their own analysis and confirm that the iPhone 17 delivery time is the longest since the release of the iPhone 11, and in China and Japan it is a week longer than in other countries. This indicates "healthy demand," according to the investment bank. They also noted an increase in lead times for the iPhone 17 Pro and Pro Max models.

At the same time, the iPhone Air is still available in stock, TF International Securities analyst Ming-Chi Kuo pointed out. According to him, this may indicate weaker demand compared to orders for the iPhone 16 Plus a year ago. At the same time, the analyst believes that Apple appears to have produced more Air devices, and more time will be needed for a correct comparison.

"Stronger iPhone 17 pre-orders should support Apple's third-quarter results, but gains in supplier stocks may be limited as investors focus on the new product cycle expected next year and potential supply chain benefits," Kuo wrote on social networking site X," Kuo wrote on social networking site X.

Quotes of the company at the opening of trading on September 15 jumped more than 1.5%, but by the second half of the day reduced growth, remaining in the plus by about 0.8%. At the time of publication of this text, Apple securities were trading above the $236 mark, having recovered part of the fall caused by disappointment after the presentation of the iPhone 17 last week. Nevertheless, they are still cheaper than before the presentation.

Of the 48 analysts tracking the company's stock, 29 of them recommend buying it (Buy and Overweight ratings). 15 are neutral (Hold), and four more recommend reducing their position in Apple (Underweight and Sell).

The main novelty of this year's iPhone lineup is the $999 ultra-thin Air, which replaces the mid-priced Plus model. However, in China, one of the most important markets for the company, the launch of the iPhone Air has been delayed due to problems with eSIM usage and waiting for regulatory approval.

Apple is expected to unveil a foldable device next year and introduce more extensive artificial intelligence features in the iPhone, Barron's notes.

This article was AI-translated and verified by a human editor