Morgan Stanley, other analysts say iPhone 15 demand is high

iPhones continue to fly off the shelves as people who want them are purchasing them in large amounts, suggests Morgan Stanley in its latest note to clients. The report seems to confirm what we’ve already seen as the 15 range hits stores and customers go pro.

A new world record?

The analysts sat lead times for all iPhone models are now ahead of the iPhone 14 sales cycle, with Pro/Pro Max models setting new records. What that means is that supply is not yet meeting demand, and demand is not slowing down. This is converting into market growth even as the market itself contracts.

These observations match similar indications from JP Morgan, Goldman Sachs, Wedbush, and Credit Suisse, all of whom have seen similar activity since the device first went on pre-sale.

Anecdotally, these observations match the kind of frenetic store activity seen at Apple retail outlets when the products went on sale last week.

iPhone 15: Mr Blue Sky?

In a note to clients, Morgan Stanley state: “Lead times for all iPhone 15 models continued to elongate as of Friday, September 22nd, with iPhone 15 Pro Max lead times still the longest of any model launched in the last 7 years, iPhone 15 Pro lead times tied for the longest of any Pro model ever launched, and iPhone 15/15 Plus lead times longer than all base models except the supply-impacted iPhone 13/13 mini.”

They confirm that early reviews suggest customers are picking up these new devices because they are impressed by (in order):

• The lightness of the device.
• The reduce bezel.
• 5x optical zoom.
• The Action button.

Don’t bring me down

Can this trend continue?

In a sense a lot depends on the next two weeks, the analysts explained. These will be “critical” in order to decide how successfully received the device will be.

At time of writing, the iPhone 16 speculation has also begun with analyst Ming-Chi Kuo forecasting that all iPhones will gain the telescopic lens technology next year. He also confirms that demand for the iPhone Pro/Pro Max models continues to exceed expectations.

Livin’ thing

What this means for Apple is continued good news.

The company knows that in 3-5 years it will benefit from a massive upgrade curve as iPhone users tend to stick with the platform. Apple is also witnessing record Android switchers, which overall means that it is currently winning the smartphone wars. It seems on course to become the biggest selling smartphone.

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