AppleInsider is supported by its viewers and should earn fee as an Amazon Affiliate and affiliate associate on qualifying purchases. These affiliate partnerships don’t affect our editorial content material.
Estimated supply occasions for Apple merchandise present that the Mac and Apple Watch could be the most provide constrained, however the total influence continues to be modest, JP Morgan says.
In a notice to buyers seen by AppleInsider, JP Morgan analyst Samik Chatterjee analyzes Apple lead occasions, or the time it takes for a buyer to obtain their order after buy. Lead occasions aren’t all the time an correct evaluation of demand, however can make clear provide demand stability.
Globally, lead occasions for each Apple’s Mac and iPad. Lead occasions for Apple’s Mac dropped to lower than a month, whereas iPad lead occasions moderated to 12 days. Estimated supply dates for the corporate’s AirPods are staying steady at 2 days.
Lead occasions for Apple’s iPhone, which is the corporate’s most essential {hardware} section, remained steady at a median of 4 days globally.
The low lead occasions for Apple’s handset leads him Chatterjee to imagine that the results of worldwide provide constraints will likely be extra average within the June quarter than Apple’s warnings recommend. Apple beforehand cautioned buyers a couple of potential $4 billion to $6 billion income hit due to provide points.
Within the U.S., lead occasions picked up even additional for the Apple Watch, whereas they moderated for different challenge classes. In Western Europe, lead occasions for Apple’s iPhone and AirPods stay beneath one week, whereas estimated supply dates have been larger in different product classes.
Lead occasions in Japan picked up for each the Apple Watch and iPhone, however declined for Apple’s Mac.
Chatterjee is sustaining his 12-month Apple of $200. The goal worth relies on a price-to-earnings a number of of 30x on his 2023 earnings estimate of $6.73.
