Apple(US:AAPL) Hua Er Jie Jian Wen·2025-09-30 10:27Core Insights - The overall demand for the iPhone 17 series is stronger than that of the iPhone 16 series during the same period, despite noticeable differentiation within the product line [1][2] - The strong performance of the base model, Pro, and Pro Max is compensating for the weaker demand for the Air model, ensuring robust sales momentum for Apple [1][5] Delivery Times and Demand - The average global delivery times for the iPhone 17 series in the third week are 25 days for the base model, 4 days for Air, 22 days for Pro, and 31 days for Pro Max, showing limited changes from the previous week [2] - Compared to the iPhone 16 series, the delivery times for the iPhone 17 series are significantly longer, particularly for the base model, which has a delivery time of 25 days compared to 10 days last year [2][5] Market Performance - In the U.S. market, which accounts for 34% of iPhone shipments, the base model and Pro Max are still not available for in-store pickup, indicating a tight supply-demand situation [1][5] - The Chinese market, representing 19% of shipments, faces regulatory issues with the Air model due to eSim configuration, which has delayed its launch [1][8] Regional Insights - In China, the delivery times for the iPhone 17, 17 Pro, and 17 Pro Max are 36 days, 22 days, and 36 days respectively, with the Air model still not available for sale [8] - European markets show a more balanced situation, with the Air model available for in-store pickup in Germany and the UK within 1-3 days, while other models require longer wait times [8]