Apple Inc (NASDAQ:AAPL).'s newly launched iPhone 15 is seeing robust consumer demand, leading to extended lead times for its Pro and Pro Max models. The increased demand was reported by Goldman Sachs in a note released on Monday, which also noted a corresponding 2% rise in Apple's share price.
The iPhone 15, which was launched last week with pre-orders starting on Friday, has seen a year-over-year increase of between 10% and 12% in pre-orders compared to its predecessor, the iPhone 14. The smartphone is set to be available for purchase in Apple's physical stores later this week.
According to Wedbush analysts, the delivery and shipment times for various models of the iPhone 15 Pro and Pro Max have been delayed until late October or early November. This delay is not confined to the U.S. market, as strong pre-orders have also been observed in other markets such as India, China, and parts of Europe.
Goldman Sachs has indicated that e-commerce fulfillment dates have quickly moved from the launch date to over eight weeks in the future for certain models and regions. This shift suggests that supply is struggling to meet the high demand.
The pink variant of the iPhone 15 is reportedly also experiencing high demand. Wedbush analysts highlighted that much of the demand is leaning towards the pricier Pro and Pro Max models. This trend could potentially increase Apple's average selling price for the iPhone by $100, reaching approximately $925.
Considering the strong pre-orders coupled with internal checks of Apple's supply chain and aggressive promotions from wireless carriers like Verizon (NYSE:VZ) and AT&T (NYSE:T), the analysts expressed confidence that Apple could initially sell between 85 million and 90 million units of the iPhone 15.
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