Strong iPhone 13 demand suggested by extremely long online backorders
You have to wait long to get your hands on the new iPhone 13 devices due to the high demand, say analysts from Swiss bank Credit Suisse, and that's definitely a good sign for Apple. Wait times for the iPhone 13 mini, iPhone 13, iPhone 13 Pro, and the iPhone 13 Pro Max are all extended to more than four weeks, marking exceptional interest in Apple's new phones. Such wait times have not been seen in four years' time, says Credit Suisse, when the iPhone X was released.
How is this interest towards the iPhone 13 gauged? According to the analysts, this is done by calculating shipping times straight from the Apple Store in some of the largest markets across the world, but physical demand as well as carrier and other retailers is reportedly excluded from the measurement. This means that Credit Suisse is only taking into account online orders for the iPhone 13.
The supply is also another unknown metric that certainly plays a large role into said wait times. Apple could simply be dealing with limited availability of iPhone 13 units, partly due to the semiconductor scarcity that's still raging on.
“We’d highlight that while wait times are a rough proxy for initial demand, the metric is only one of many variables impacting iPhone sell-through; supply availability is a key unknown, particularly this year,” the analysts said.
Still, even despite the limited scope of data, the exceptional wait times suggest high demand and would most likely lead to record sales of the iPhone 13. What's more, the demand might spell great news for Apple's stocks, which are pretty much tied in with the iPhone's market performance.
Coming from all this, Credit Suisse still put an ambitious $150 price target for Apple stock, which kicked off at $142 Monday and is still gravitating around that number on Tuesday, though trading was not open at the time of writing.
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