Analysts say demand for Apple's iPhone 14/Pro series is stronger than previous generations

 A well-known Apple analyst and investment bank Wedbush analyst Dan Ives said in an interview on Monday local time that the market demand for Apple’s iPhone 14 series smartphones is “stronger than iPhone 13.

Growing fears of a recession among investors have put Apple shares under as much downward pressure as other stocks. But the arrival of new iPhones and the Apple Watch could turn that around. According to Ives, the two new products appear to have shown strong market demand from the start.

Consumer demand for Apple's high-end models has been particularly strong. Ives estimates that 85% to 90% of new iPhone preorders are for the iPhone 14 Pro and iPhone 14 Pro Max.

"In terms of the average selling price of products, this demand is very strong, and I think it will be 8% to 10% higher than the iPhone 13," Ives said in an interview. "While demand growth is shrinking, But at least so far, I think supply is more important than demand."

On September 7, Apple released the iPhone 14 series of smartphones at the company's headquarters. Product pre-sale began on September 9, and consumers could pick up the goods at the store on the 16th. The new AirPods Pro Apple Headphones and Apple Watch Ultra Apple Watch began shipping on September 23.

Other analysts seem to agree with Ives, and they all seem fairly strong early demand for Apple's new products.

JPMorgan analyst Samik Chatterjee wrote in a report: "The market demand has been strong following the release of the new iPhones. The organic market continues to favor the Pro models as it was last year, but compared to last year's, the lead times for both new Pro models have been extended.” “The lead times for the iPhone 14 series of smartphones began to extend a day after the product launch, compared to the average delivery time for the IPhone 13 series of smartphones. The period only started to extend a week after the product was released. In terms of delivery time, the market demand for the rest of the new products such as the Apple Watch Ultra is also quite strong.”

Chatterjee added that the new $800 Apple Watch Ultra is also off to a good start.

Despite the initial data being favorable for Apple, Apple shares were hit hard during the September sell-off. Apple shares have fallen about 8% in the past month and have fallen 15% this year.

Ives believes that this pullback may be too much.

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