Apple iPhone 18 Pro Demand Surges Amid Supply Constraints

Apple's iPhone 18 Pro and Pro Max models are seeing stronger demand than expected, according to JPMorgan research. Average delivery wait times for these devices have more than tripled in the second week of preorders, indicating a potential supply constraint or increased consumer interest.

The lead time for the iPhone 18 Pro has risen to 23 days from seven days in week one, while the iPhone 18 Pro Max's lead time now stands at 30 days, up from 19 days. This increase in wait times is consistent across major markets, including the U.S., Germany, and the UK.

JPMorgan notes that these longer lead times could be a result of either stronger demand or supply constraints, but also cautions that wait times may ease in week three. Meanwhile, Morgan Stanley suggests that lead times of two to four weeks despite higher production levels indicate healthier underlying demand than initially expected.