Today, Wedbush analyst Dan Ives said that Apple has the cadence to potentially sell over 10 million iPhones this Black Friday weekend. He also estimated that the company is on the road to shipping 40 million iPhones between now and Christmas.
In a note to his clients, Ives said:
“We are seeing shortages in many Apple stores with iPhone 13 Pro (Sierra Blue and Gold the most popular), as we estimate right now demand is outstripping supply for overall iPhone 13 units globally by roughly 15% heading into this holiday season.
Despite the chip shortage and Rubik’s Cube logistics that Apple (and every other technology, auto, and retail vendor) is dealing with we are seeing tremendous demand trends both in the US and China for iPhone 13 which is a positive sign that Apple could exceed selling 80 million iPhone units in the quarter with stronger Pro versions driving higher ASPs.”
Ives estimates that the Cupertino giant could sell around 15 million iPhone 13s in the December quarter in China alone. The region continues to be a significant strong point for the company heading into 2022. The analyst is reportedly adhering to his “outperform rating” on its stock and its $185 price target.
We agree that given the current situation of the chip shortage, demand is bound to outstrip supply. However, Apple is expected to catch up to the imbalance early next year. Apple lost around $6 billion in revenue last quarter due to the semiconductor shortage, so it will be interesting to see what kind of an impact the crisis has on the company’s sales in the current quarter. That said, if you go to purchase popular Apple products today, delivery lead times extend well into January in some cases and could disappoint customers despite Apple’s best efforts.
Are you buying any Apple products this holiday season? If yes, make sure to check out our roundup of the best Apple holiday season deals for 2021.[Via Today UK News]