According to Wedbush Institutional Analyst Daniel Ives, despite chip shortages across the industry, Apple sold more than 40 million iPhone 13 models during the holidays, setting a record for the company. Reports began last year that as delivery estimates for iPhone 13 models began to improve, demand for iPhone 13 models was slowing before the holiday.
However, in a new note to investors, Ives said that the demand for the current iPhone cycle into 2022 is still strong. The solution began in the first half of this year, which will be a continuing positive sign for Apple.
Based on our inspections of the supply chain in the past few weeks, we believe that Apple’s demand in the December quarter exceeded the supply, with approximately 12 million units. Now as the supply chain problems eased in the first half of 2012, this will provide Apple with Sailing in March and June quarters increased tailwinds.
According to Ives, in the past 12 months, China has been Apple’s main source of market power and a key region for iPhone sales, especially with the multi-year supercycle brought about by the iPhone 12 and iPhone 13. Related to the increase in market share.
Of the 975 million iPhone users worldwide, approximately 230 million have not upgraded in the past three and a half years. The analyst believes that as people’s expectations for Apple’s highly anticipated mixed reality headsets increase, new products are expected to be announced in the summer.
Analysts said that the key of Apple’s revaluation is still its service business, including Apple TV, iCloud, Apple TV+ and Apple Fitness+, which Wedbush believes are now worth $1.5 trillion. On this basis, despite reports of tight supply, Apple’s chip shortage is a transitional issue, it is just a speed bump on Apple’s path to becoming the first $3 trillion company with a market value of 2022.