iPhone 16 Pro Demand Lags, Longer Wait Times Globally, China Shows Smaller Gap: Analyst
Portfolio Pulse from Anusuya Lahiri
JPMorgan analyst Samik Chatterjee maintains an Overweight rating on Apple with a $265 price target, despite noting softer early demand for the iPhone 16 Pro models compared to the iPhone 15 series. Lead times for the iPhone 16 series vary globally, with China showing a smaller gap between base and Pro models. AAPL stock is down 2.69% at $216.56.
September 16, 2024 | 4:33 pm
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JPMorgan analyst Samik Chatterjee maintains an Overweight rating on Apple with a $265 price target. Early demand for iPhone 16 Pro models is softer than the iPhone 15 series, with varying lead times globally. AAPL stock is down 2.69% at $216.56.
The analyst's report indicates softer demand for the iPhone 16 Pro models compared to the previous series, which could negatively impact short-term stock performance. However, the Pro Max model remains favored, which might mitigate some negative effects. The stock is already down 2.69%, reflecting market reaction to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100