Chinese demand for Apple's iPhone 14 is stronger than iPhone 13, analyst says
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Apple (NASDAQ:AAPL) is getting ready to launch the next version of its iPhone, widely expected to be called the iPhone 14, later this year and a top analyst said that demand in China is likely to be stronger for the new device than the current iPhone 13, helping assuage some fears.
TF International Securities analyst Ming-Chi Kuo tweeted on Thursday that demand for the iPhone 14 is likely to be stronger from distributors, retailers and even scalpers, noting that some members of these groups have had to pay the "highest prepaid deposit ever" in order to get sufficient supply.
The high deposit prices, imply that "iPhone 14 demand in the Chinese market will likely be higher than expected," Kuo wrote.
Apple (AAPL) shares fell nearly 1.5% to $137.18 in early trading on Thursday.
In addition, Kuo noted that the forecast from component suppliers for the iPhone 14 is roughly 100M and 90M in the second half of 2022, respectively.
"The solid demand for iPhone 14 in the Chinese market may reduce market concerns about the risk of the iPhone 14 order cut after the launch," Kuo added.
Apple (AAPL), which recently unveiled the latest versions of its operating systems, is expected to unveil the next version of the iPhone in the fall, given its past history.
On Wednesday, Wedbush Securities said that demand for the Apple (AAPL) iPhone is "holding up slightly better than expected," despite fears to the contrary.