JPMorgan says that in week eight of its Apple (AAPL) product availability tracker, delivery lead times across the entire iPhone 16 lineup moderated over last week, led by Pro models, while lead times for Base models were largely stable – corroborating recent comments from the Apple management team on the earnings call. Lead times in aggregate are modestly lower relative to iPhone 15 last year, suggesting modestly weaker demand cycle for iPhone 16, the analyst tells investors in a research note. The firm has an Overweight rating on Apple.
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