KeyBanc analyst John Vinh says his carrier survey indicates Apple Inc.
iPhone 13 demand remains robust, but supply constraints have significantly impacted order fulfillment.
The majority of stores surveyed have no 13 Pro/Max inventory, with limited availability of the 13/Mini. Additionally, the analyst notes that many customers have opted to purchase an iPhone 12 when the iPhone 13 is unavailable.
As a result, DOI remains excessively lean at well under one day. Vinh views these results as moderately negative for the Apple supply chain and potentially limiting the near-term upside.
However, pent-up demand likely supports better-than-seasonal demand for Q1 2022, he contends.
The analyst points out that companies with meaningful Apple exposure include Broadcom Inc, Cirrus Logic Inc, Qualcomm Inc, Qorvo Inc, and Skyworks Solutions Inc.
Price Action
AAPL closed at 0.01 percent at $150.00 on the last check Monday.By Anusuya Lahiri
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