Apple (ticker: AAPL) has recently faced skepticism from analysts about whether the release of the iPhone 15 will boost sales. However, new data is emerging that could change this perspective.
According to Wedbush’s Daniel Ives, the beginning of preorders for the iPhone 15 is bringing good news for Apple. Based on Wedbush’s analysis, preorders as of Sunday have shown a 10% to 12% increase compared to the same period for the iPhone 14. The smartphone is scheduled to go on sale in stores starting this Friday.
Ives stated in a research note that the Asia supply-chain checks conducted over the weekend have given them increased confidence. They predict that approximately 85 million units of the iPhone 15 will be sold initially, with the potential to reach close to 90 million units. Ives also highlighted that carrier promotions have already begun and will act as a major catalyst for upgrades into the holiday season.
While Apple shares have seen a decline, down 0.2% in premarket trading at $174.69, there is hope for a turnaround. The stock has experienced a drift from its highs of around $195 in late July, partly due to concerns over a ban on iPhone use by Chinese government officials.
The early data on iPhone 15 preorders also brings further good news. Ives mentioned that preorders have been skewed towards the more expensive Pro and Pro Max models. Wedbush forecasts an average selling price of approximately $925 for the iPhone 15, indicating an increase of around $100 compared to iPhone sales in the past 12 to 15 months.
Publicly available data further supports the popularity of the pricier models. For instance, Apple has already pushed back iPhone 15 Pro Max delivery dates to November in some countries, including the U.S.
While there are reservations about Apple in the short term, Jordan Klein, a Mizuho analyst, cautions against taking a bearish stance based on these pending iPhone 15 data points.
