JPMorgan Reiterates Overweight on Apple (AAPL) as iPhone 17 Lead Times Track Higher

Core Viewpoint - Apple Inc. is recognized as a significant player in the AI stock market, with recent analyses indicating varying lead times for its iPhone models, suggesting a complex supply-demand dynamic [1][2]. Group 1: Stock Performance and Analyst Ratings - JPMorgan has reiterated an "Overweight" rating for Apple, noting that lead times for the iPhone 17 series have increased by three days compared to the previous week, indicating a stronger demand than the prior year [1]. - UBS has maintained a "Neutral" rating, highlighting that while wait times for the iPhone are decreasing week over week, they remain elevated compared to last year [2]. Group 2: Supply and Demand Dynamics - The increase in lead times is attributed to improving supply catchup relative to demand, which has been higher than in previous years [2]. - UBS Evidence Lab data shows that wait times for the iPhone Base and Pro Max models are trending lower, although they are still higher than the same period last year [2]. Group 3: Investment Considerations - While Apple is acknowledged for its potential as an investment, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [3].