Apple(US:AAPL) 美股IPO·2025-09-16 07:08Core Viewpoint - The iPhone 17 series shows strong demand signals, with delivery times significantly longer than the previous generation, particularly in the Chinese market, indicating that actual demand growth exceeds production capacity growth [2][3][9]. Delivery Time Analysis - The average delivery time for the iPhone 17 series globally is longer than for the iPhone 16, with the standard and Pro Max models experiencing the most significant increases of 8 days [3][4]. - In China, the average delivery time has increased from 10 days for the iPhone 16 to 27 days for the iPhone 17, a net increase of 17 days, the highest among tracked markets [9][10]. - Other major markets also show strong performance, with the UK seeing an 8-day increase to 18 days, India a 3-day increase to 13 days, and the US a 3-day increase [10][11][12]. Market Demand Insights - The Pro series remains the preferred choice among consumers, with sales composition reports indicating that Pro and Pro Max models accounted for 33% and 36% of sales, respectively [15]. - The pre-order trend for the iPhone 17 continues this pattern, with delivery times for Pro and Pro Max models significantly longer than for the base and Air versions, particularly in China [15]. Production Capacity and Demand - Despite a reported 25% increase in planned production for the iPhone 17 models compared to the iPhone 16, delivery times have still increased, suggesting that actual market demand is outpacing supply chain capacity growth [16][17]. - The iPhone 17 Air's production is reported to be three times that of the iPhone 16 Plus, yet delivery times have not decreased, reinforcing the notion of strong demand [16][18]. - This robust pre-order trend supports expectations for an 8% growth in iPhone revenue for Apple's fourth fiscal quarter, aided by channel replenishment due to low inventory levels at the end of the previous quarter [18].