Apple’s iPhone 17 Ship Times Significantly Extended Compared To iPhone 16, Says BofA

Apple Inc.’s (AAPL) iPhone 17 is experiencing considerably longer ship times, according to the analysts at Bank of America.

According to a report by TheFly, BofA analysts observed in a recent note that the ship time for the newly launched iPhone 17 is 18 days, compared to iPhone 16’s 10 days, as of Monday. The firm reiterated its ‘Buy’ rating on the AAPL stock with a price target of $270.

Apple’s shares traded higher by more than 4% on Monday morning. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory.

“The baseline Pro model (iPhone 17 Pro with 256GB storage) is really extended (in terms of ship times). That extension is particularly prominent in China. Now that could be happening partly because the iPhone Air is not available in China because of eSIM reasons, so the baseline model has incremental demand,” said Wamsi Mohan, senior IT hardware analyst at Bank of America Securities, in an interview with CNBC.

Apple has encountered a hurdle in China with the iPhone Air, which features an eSIM-only design. This comes at a time when the company has maintained its leadership position in the U.S., with a market share of over 57%, according to data from StatCounter. Samsung is the company’s closest rival, with a 22% share, while Alphabet Inc.’s Google comes in third place, with a 6% share.

Wedbush Managing Director Dan Ives also echoed similar sentiments in a recent note. “The combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates,” Ives added, according to a CNBC report.

AAPL stock is flat year-to-date, but up nearly 10% over the past 12 months.

Also See: Gold Prices Hit New Record High, Analyst Says Further Hint Of Rate Cuts Could Add To Yellow Metal’s Shine: Report

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Editor's Note: This story has been updated with the BofA take on AAPL stock.

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