Apple’s iPhone 15 lineup is generating significant customer interest, extending beyond the higher-end Pro models, according to J.P. Morgan analyst Samik Chatterjee. Preorders for the iPhone 15 have already begun, with availability for customers starting this Friday. Apple customers can choose from four different models: the base model, the Plus, the Pro, and the Pro Max.
Analysts across Wall Street have observed that lead times for the more expensive Pro and Pro Max models are longer compared to the lower-priced options. However, Chatterjee highlights that lead times for the lower-end options are greater than those of the lower-priced iPhone 14 models. This suggests that there may be stronger demand for the lower-end iPhone 15 models.
Consumer spending power has been impacted by high inflation and rising interest rates, leading shoppers to trade down to less expensive options. This raised concerns among Apple investors regarding potential delays in phone upgrades to the newest models. Chief Financial Officer Luca Maestri acknowledged on the company’s recent earnings call that fiscal third-quarter revenue from product sales was down 4% from the previous year due to changes in exchange rates and an uneven macroeconomic environment.
However, the shipping delays and longer lead times highlighted by Chatterjee serve as a positive signal of robust demand for the iPhone 15 models.