BofA analysts said that the Apple (NASDAQ:AAPL) iPhone 15 and 15 Pro availability picked back up over the last week.
The analysts, who have a Neutral rating and $208 price target on the stock, said availability for the models is improving, with the firm's proprietary interactive dashboard showing it increased from October 9th to October 15th.
"Last week, our dashboard showed iPhone 15 Pro / Pro Max model availability in the low single-digits across 4 of the 5 geographies we track. Over the last week, we saw improvement in 15 Pro / Pro Max availability across all geographies, with Europe being the weakest (7% available)," the analysts said.
Meanwhile, the other four geographies the investment bank tracks — the US, Canada, China, and Asia excluding China — all saw improvements to the 20-30% availability range.
"We think the data indicates a better supply environment where supply is catching up to demand," the analysts added. They also noted that the iPhone 15 and 15 Plus availability is also improving, while iPhone 14 and older models are showing availability increases.
"We also looked into the iPhone 15 & iPhone 15 Plus models, which saw increasing availability over the last week. 4 of the 5 geographies we track saw 25 to 40 point increases in availability while Europe saw the smallest increase of only 12 points (26% to 38%)," the analysts said. "Older iPhone models (14 and below) also saw increases in availability over the last week."