Evercore ISI analyst Amit Daryanani said his checks indicate that lead times have expanded since last week for Apple’s iPhone 14 Pro and Pro Max models across all the geographies he tracks, excluding Japan, by about one to six days. This strong demand signal stands "in stark contrast" to recent concerns around a demand slowdown, according to Daryanani, whose assessment remains that iPhone units will be stable to slightly up, but "the real story" is that average selling prices will be up a high single digits percentage in the second half, driving upside to the September and likely December quarter results. Daryanani keeps an Outperform rating and $190 price target on Apple shares.
Published first on TheFly
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