Shortening the initial delivery time does not reflect demand. Morgan Stanley gives Apple an "overweight" rating, stating that the next 10 days will be crucial
Morgan Stanley gives Apple an "overweight" rating with a target price of $273. Analyst Erik Woodring pointed out that current iPhone demand data does not reflect future demand, believing that it is too early to judge the shipment volume for the next 12 months. The delivery time for iPhone 16 has been shortened, but the predictive power of delivery time as a demand indicator is limited, with changes in the next 10 days being more critical. The pre-order sales of the iPhone 16 series during the first weekend were lower than expected, with analyst Ming-Chi Kuo stating that sales decreased by 12.7% year-on-year, mainly due to lower-than-expected demand for the iPhone 16 Pro series
According to the Zhitong Finance and Economics APP, Morgan Stanley has given Apple (AAPL.US) an "overweight" rating and set a target price of $273.
Analyst Erik Woodring pointed out in a report on Wednesday that the current iPhone demand data does not necessarily reflect future demand. He believes that it is too early to judge the iPhone shipment volume for the next 12 months.
He wrote, "The delivery time for the iPhone 16 has been shortened compared to last year, but at this early stage, delivery time as a proxy indicator of demand does not have strong predictive power. The changes in delivery time in the next 10 days are more important."
Concerns were raised due to the lower-than-expected pre-order sales of the iPhone 16 series during the first weekend. It is reported that Guo Mingchi, an analyst at TF International Securities, estimated that the pre-order sales of the iPhone 16 series during the first weekend were about 37 million units, a decrease of approximately 12.7% compared to the first weekend sales of the iPhone 15 series last year, with the key issue being the lower-than-expected sales of the iPhone 16 Pro series.
Guo Mingchi pointed out that the delivery time of the iPhone 16 Pro series is significantly lower than that of the 15 Pro series. In addition to the increase in pre-order inventory, the key factor for the decrease in sales compared to the previous year's first weekend lies in the lower-than-expected demand