Investing.com | By Sam Boughedda
Published 10/17/2023 07:16
BofA analysts say availability of Apple’s (NASDAQ:AAPL) iPhone 15 and 15 Pro has improved over the past week.
The analysts, who have a neutral rating and a $208 price target on the stock, said model availability is improving, with the firm’s proprietary interactive dashboard showing it increased from Oct. 9 to Oct. 15. October.
“Last week, our dashboard was showing single-digit iPhone 15 Pro/Pro Max model availability in 4 of the 5 geographies we track. Over the past week, we saw an improvement in 15 Pro/Pro Max availability in all geographies, with Europe being the weakest (7% available),” the analysts said.
Meanwhile, the other four geographies served by the investment bank (US, Canada, China and Asia excluding China) saw improvements of between 20% and 30% in availability.
“We believe the data indicates a better supply environment in which supply is catching up with demand,” the analysts added. They also noted that availability of the iPhone 15 and 15 Plus is also improving, while the iPhone 14 and older models are seeing availability increases.
“We’ve also looked at the iPhone 15 and iPhone 15 Plus models, which have seen availability increases over the past week. 4 of the 5 geographies we track saw increases of 25 to 40 points in availability, while Europe saw the smallest increase of just 12 points (26% to 38%),” the analysts said. “Older iPhone models (14 and below) also saw increases in availability over the past week.”
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Written by: Investing.com
2023-10-17 15:05:48
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