Apple drops even as UBS sees evidence of improving iPhone 14 Pro wait times (AAPL) - Seeking Alpha

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Apple (NASDAQ:AAPL) shares fell astir 2% to $143.86 successful mid-day trading connected Tuesday adjacent arsenic concern steadfast UBS said it had seen grounds of improving hold times for the iPhone 14 Pro and iPhone 14 Pro Max successful 30 countries, suggesting that the proviso concatenation headwinds the tech elephantine dealt with are starting to easiness up.

Analyst David Vogt, who has a bargain standing and a $180 terms people connected Apple (AAPL), noted that hold times successful the U.S. for some high-end iPhone 14 models are present down to astir 25 days, down from 38 days 2 weeks ago. In China, hold times person have declined, albeit little drastic, to 36 days, down from 39 days past week and 2 weeks ago.

Vogt added that if the inclination continues to amended astatine the aforesaid rate, it whitethorn beryllium imaginable for U.S. customers to get an iPhone 14 Pro oregon iPhone 14 Pro Max by Christmas.

"While the inclination is simply a invited respite, we judge the marketplace is apt to presumption the December and March quarters successful aggregate comparative to past twelvemonth to gauge underlying demand," Vogt wrote successful a enactment to clients.

The expert added that iPhone request has been "largely durable" and determination is conscionable a "limited" fig of consumers who are consenting to permission the Apple (AAPL) ecosystem. He present expects 144M iPhones to beryllium sold successful the adjacent 2 quarters, which would beryllium level successful enactment with the anterior year's results.

In aboriginal November, Apple (AAPL) warned that proviso concatenation issues successful China resulting from the country's strict COVID-19 policies would effect successful little iPhone 14 Pro and Pro Max shipments than antecedently estimated.

On Monday, it was reported that Apple (AAPL) was discussing moving immoderate accumulation of its fashionable iPad tablet to India successful an effort to proceed diversifying distant from China.