Strong demand for iPhone 17 boosts Apple
According to a report in the Financial Times, Apple's iPhone 17 series is driving an unusually strong wave of upgrades, and sales growth is expected to be the highest since the COVID-19 period.
Particularly strong demand data: The average waiting time for iPhone 17 devices is about 13% longer compared to last year, a figure indicating higher-than-usual demand. The standard model sold far beyond expectations, while the Pro and Pro Max models are seeing a clear increase in orders.
Mizuho Securities raised Apple's shipment forecast from 88 to 94 million units (+6.8%), and expects additional orders for companies manufacturing critical components in the iPhone ecosystem.
Additional growth factors: Significant upgrades to the camera, display, and battery. Attractive trade-in programs. Government support for sales in China.
Sales forecasts: Fiscal year 2025: Expected 4% increase in iPhone sales – $209.3 billion. Fiscal year 2026: Further increase of about 5% to $218.9 billion.
Apple will release its fourth-quarter results (which include the launch of the iPhone 17) on October 30, a date expected to be a key moment for investors and partner companies in the supply chain.
Investors liked the news and Apple stock reached a new all-time high yesterday.