JPMorgan Sees Bullish Signs for Apple's Premium iPhone Models

JPMorgan's latest research note suggests that Apple's premium iPhone models are seeing stronger demand than expected, at least in certain markets. According to JPMorgan, average wait times for the iPhone 18 Pro have increased to 23 days in the second preorder week, up from seven days previously. The Pro Max model has seen a similar increase, with wait times rising to 30 days from 19 days. These longer delivery times may indicate healthier demand for Apple's higher-priced models.

The research note highlights that the U.S. and Germany have recorded notable increases in wait times, while China's delivery periods remain below year-earlier levels. The U.S. market represents about 34% of iPhone shipments, making it an important indicator of demand. In contrast, China accounts for roughly 19% of shipments.

Other research has also pointed to continued interest in Apple's higher-priced models. Morgan Stanley notes that two-to-four-week waits despite increased production may indicate healthier demand, while an Evercore ISI survey showed 53% of prospective U.S. buyers planned to choose an iPhone 18 Pro or Pro Max, up from 51% previously.

JPMorgan suggests that timelines could moderate during the third preorder week, but the overall trend is still bullish for Apple's premium models. The company's upcoming foldable iPhone and later production revisions will provide additional clues on demand trends in the coming months.