Apple’s iPhone 15 series has been making waves in the tech world ever since its unveiling 11 days ago. With pre-orders starting eight days ago and the phones being released just yesterday, it’s natural to wonder how the launch is going so far. Fortunately, TF International’s renowned Apple analyst Ming-Chi Kuo has provided some insight into the matter.
According to Kuo’s latest report, things are going exceptionally well for Apple. He predicts that the company’s fiscal Q4 iPhone revenue and profits will exceed expectations. To support this claim, Kuo points to the increased orders for the telephoto module that is exclusive to the iPhone 15 Pro Max. He estimates that Apple has raised its order for the flagship iPhone 15 model to 35 million units, a significant 25% increase from the 28 million units of the iPhone 14 Pro Max delivered in the second half of last year. Kuo goes on to say that the iPhone 15 Pro Max will serve as the primary growth driver for Apple’s iPhone business in Q4 2023.
However, the other models in the iPhone 15 series have had mixed results. Kuo explains that the iPhone 15 Plus, which has a 6.7-inch display, has performed better than expected despite initially lowered expectations. On the other hand, sales of the two 6.1-inch models, the iPhone 15 and iPhone 15 Pro, have fallen below expectations. To potentially boost sales, Kuo suggests that Apple may need to consider reducing the prices for these two models or even decrease orders for them.
It’s important to note that Ming-Chi Kuo is an analyst for a securities house, which means his predictions and reports are influenced by investments and the stock market. Speaking of which, Apple’s shares have been experiencing some weakness recently, trading mostly sideways or in a downward trend. As of Friday’s closing, the stock was valued at $174.79 and the company’s market valuation stood at an impressive $2.73 trillion.
Overall, the iPhone 15 series seems to be off to a strong start. The iPhone 15 Pro Max is expected to be a key driver of growth for Apple, while the performance of the other models remains somewhat uncertain. Nevertheless, Apple’s ability to navigate the market and make necessary adjustments will likely determine the ultimate success of its latest iPhone lineup.