In a recent memo to investors, Samik Chatterjee, chief analyst at JPMorgan Chase, analyzed the delivery time of the iPhone 13 and iPhone 13 Pro in the 15th week of listing. He believes that the delivery time of the iPhone 13 series is increasingly pointing towards the series’ balance of supply and demand.
In all regions, the delivery time of iPhone 13 mini, iPhone 13, iPhone 13 Pro and iPhone 13 Pro Max has stabilized at an average of 3 days, 3 days, 5 days and 3 days respectively. This is basically the same as the 2 days, 2 days, 5 days, and 5 days of the previous week.
In the United States, which accounts for 35% of iPhone shipments, the lead time for iPhone 13 Pro and iPhone 13 Pro Max has eased to 1-2 days. The lead time for iPhone 13 mini and iPhone 13 dropped to zero days.
In China, a key region that accounts for about 15% of iPhone shipments, the 15th week delivery time is 0, 0, 5, and 1 day. Consumers in the UK and Germany have seen the delivery time of all models reduced to 6 days, and there is a one-day in-store pickup service in these two countries.
Compared with mid-range models, the delivery time of the iPhone 13 Pro and iPhone 13 Pro Max is still longer, which bodes well for Apple’s average selling price (ASP), as it leans toward high-end models.
According to Chatterjee, the balance between supply and demand and a good mix of high-end equipment showed encouraging signs for the December quarter. He added that Apple may reach its optimal inventory level, which may yield benefits in the March 2022 quarter.
