Wait times for Apple’s top-end iPhone 14 Pro models are reaching ‘extreme’ levels — and consumers are opting for cheaper models instead — as the company grapples with continued supply chain disruptions as the holiday season approaches.
In a note to investors from UBS seen by AppleInsider, analyst David Vogt found that wait times for iPhone 14 Pro models reached 34 days in most markets, including the US, up significantly from seven days in early November and 19 days in October.
UBS had expected consumers to trade in and buy one of the lower-end iPhone 14 models because of the long waiting times, but found that this was not the case. Vogt called the wait times for the iPhone 14 and 14 Plus “non-substantial”.
Wait times for Apple’s high-end iPhone 14 Pro models are reaching “extreme” levels — and consumers aren’t choosing cheaper models instead. Above: Person holding iPhone 14 Pro
In a note to investors from UBS seen by AppleInsider, analyst David Vogt found that wait times for iPhone 14 Pro models reached 34 days in most markets. Above: iPhone 14, iPhone 14 Pro, and iPhone 14 Pro Max on display at Apple Fifth Avenue
Earlier this month, Apple said in a statement that it was seeing “strong demand” for its Pro models, and warned that “customers will see longer waiting times to receive their new products.”
The longer wait times come as the California-based company grapples with supply chain constraints and increased Covid-19 restrictions at its main assembly facility in Zhengzhou, China, which the company previously said was running at significantly reduced capacity.
Apple’s iPhone 14 has several new features that can detect when you’ve been in a car accident, track ovulation, and connect to satellite internet. Above: Apple CEO Tim Cook
However, consumers can purchase base-line models at the Apple Store or the company’s website.
The investment services firm expects iPhone shipments to reach 83 million units for the December quarter, which is slightly lower than the 86 million units it expected in November, AppleInsider reports.
UBS believes the company — led by CEO Tim Cook — faces some risk if it can’t meet demand for its smartphones during the holiday season.
If wait times do not improve in the coming weeks, you could miss the Wall Street consensus estimate.
Former Apple Chief Financial Officer Luca Maestri He said The company expects year-over-year revenue growth to slow in the December quarter compared to the prior quarter, citing the strength of the US dollar and continued macroeconomic weakness.
The bank reportedly lowered the price target for Apple to $180, down from $185 in its last report.
In late September, Apple cut production of the iPhone 14 after seeing weaker-than-expected demand.
The lack of enthusiasm among consumers is likely due to higher prices in markets outside the US and inflation, which is leading consumers to hold on to older iPhones rather than buying the latest model.
Users who purchased the iPhone 14 reported several problems with the phone, such as problems with cellular connectivity, shaking cameras, and the device randomly crashing while charging.
Apple’s iPhone 14 has several new features that can detect when you’ve been in a car accident, track ovulation, and connect to satellite internet.
The device starts at $799 in the US, similar to previous iPhones, but across the Atlantic, the phone starts at over $900.
However, the iPhone 14 Pro was a hit and dominated the first week of pre-orders, which may be due to the significant upgrades included in the smartphone.
The Pro has a brighter display, which earned it the best screen of a smartphone, a better camera with up to four times the resolution of its predecessor, and a new dynamic island that uses dead space on a smartphone to house the selfie camera and Face ID.
In late September, Apple cut production of the iPhone 14 after seeing weaker-than-expected demand. Lack of enthusiasm among consumers likely due to price increases for markets outside the US Above: A man walks past the headquarters of Taiwanese electronics giant and iPhone maker Foxconn in Zhengzhou, China