“This will be the defining launch for Cook & Co.,” says GBH analyst Daniel Ives.
From a note to clients that landed in my inbox Monday:
Tracking lead time and initial demand across the globe since Friday, we would characterize this first stage of the iPhone X release as a “stellar success” with current lead times still 5-6 weeks vs. our expectation of 4 weeks…
We now believe pre-order demand could be closer to 50 million units of iPhone X vs. our original estimate of 40 million, which is more than double the current supply of iPhone X out of Asia currently available for shipments over the coming months…
Based on our estimates, we do not see supply/demand balance reached until the April/May 2018 timeframe
This will be a defining product launch for Cook & Co. that we ultimately believe will be Apple’s biggest iPhone product cycle to date.
Ives maintains his Highly Attractive rating and valuation target of $190 to $200.
My take: A bullish note if I ever saw one. In the space of a week Ives has upped his preorder demand estimate 25% to 50 million and pushed iPhone X supply/demand balance up a month from April/May to May/June.