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The wait times for the iPhone 13 are longer than for the iPhone 12.
George Frey / Getty Images
Apple
Last year’s iPhone 13 wasn’t a huge step up from last year’s iPhone 12. Nonetheless, initial wait times on the company’s website could signal a higher demand or a lighter supply.
Wait times on Monday were longer for all iPhone 13 models than for comparable iPhone 12 models that Apple (ticker: AAPL) rolled out last year, according to an analysis by Credit Analyst Swiss Matthew Cabral.
The analyst tracked initial iPhone 13 wait times on Apple’s website in key markets. It found wait times of three to five weeks for the high-end iPhone 13 Pro and iPhone 13 Pro Max, which is about two weeks longer than the iPhone 12 Pro and iPhone 12 Pro Max.
The cheaper models also had wait times, but not as long, as the Cabral tracker shows. More than two-thirds of the base iPhone 13 and iPhone Mini models have wait times of over a week, compared to about a quarter of their iPhone 12 counterparts.
The more expensive iPhone 13 Pro and Pro Max have longer wait times than the base iPhone 13 in all markets, with all Pro and Pro Max units tracked at over three weeks. This could be a sign that consumers are more interested in high-end models, which would be a positive development for Apple. On the flip side, he notes that the cheapest 128GB memory storage option has the longest shipping windows for the base and mini models.
Cabral wrote that long wait times can be a rough approximation of initial demand, although he qualified this a bit by pointing out how supply availability is a key unknown variable.
Overall, it’s still too early to draw firm conclusions about iPhone 13 demand from wait time data, especially as increased supply constraints could skew [year-over-year] comparisons, ”he wrote. “We will be closely monitoring sales trends for a better read of Year 2 of the 5G era.”
Apple stock rose 0.3% to $ 143.38 in afternoon trading on Tuesday, after a tough day for tech giants and the broader market on Monday.
In addition to the general demand for the devices, BofA Securities analyst Wamsi Mohan wrote in a note to clients on Tuesday that a resurgence of nationalist sentiment in China could pose a risk to iPhone sales in that country. He believes the company has handled its relationship with China well so far, but estimates that every 10% drop in iPhone sales in the country would lead to a 4-5 million drop in iPhone unit sales. , or a $ 4 billion headwind for revenue.
“Apple’s relationship with China is unique given that it is a large market for its products and services, but Apple also creates significant jobs in China through its manufacturing and the large community of developers, ”he added.
Mohan estimates 210 million iPhones will be sold in fiscal 2022, of which around 40-50 million will be sold in China, but notes that stricter Chinese government restrictions on video games could impact the growth of sales from the company’s App Store.
Write to Connor Smith at [email protected]
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