iPhone availability 'largely in line' with expectations, Watch has strong demand: BofA
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Investment firm Bank of America said the availability of the iPhone 15 is "largely in line" with the firm's expectations, but the Apple Watch may have better-than-expected demand, based on trade-in values. 
Analyst Wamsi Mohan, who has a neutral rating and $208 price target on Apple (NASDAQ:AAPL), said he saw data on the iPhone 15 Pro and iPhone 15 Pro Max that showed a "quick decline" from September 22nd to the 24th, while the iPhone 15 and iPhone 15 Plus showed availability of greater than 60% in the company's two key markets, the U.S. and China. 
"We expect in the coming weeks to see iPhone 15 availability continue to trend higher as supply improves," Mohan wrote in an investor note.
Moving to trade-in values, Mohan said that trade-in values for the MacBook Pro rose in September, which would suggest "continued sluggish demand" in the three largest geographies, the U.S., U.K. and China. 
However, there were no increases in trade-in in any of the Apple Watch models in either the U.S., U.K. and China, suggesting better demand. 
Apple (AAPL) shares fell 1.7% in early Tuesday trading.

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