After Apple’s iPhone 17 release in the past few days, some people said that Apple lost about $52 billion on the first day. According to sources, Apple had promised its investors that it would make the iPhone-17 fully AI, but this did not happen. Despite all this, the company claims that it has surpassed the record sales target on the first day.
But, now the apple claimed to seek robust demand for its new iPhone new 17 series on its first day of release. The latest models of iPhone, widely known as iPhone 17, iPhone Air, iPhone 17 Pro and iPhone 17 Pro Max, officially became available in Apple Store locations around the globe and online and in the Apple Store app on Friday (Sept. 19), Apple announced.
As for JPMorgan said that, it boosted its price target on Apple to $280 from $255 with an Overweight rating, along with increased revenue and earnings per share forecasts. At the same time, initial demand signs are better than expected, they will “need to see a bit more” before making any significant adjustments to Apple production estimates, Seeking Alpha said Friday.
According to the JPMorgan analysts, “led to a higher iPhone volume outlook [to] 236 [million] in [fiscal year 2026], which represents a modest +2% [year-over-year” iPhone volumes, which they contend, along with mix tailwinds “we believe supports iPhone revenue growing mid- to high-single-digit growth,” per the report.
According to the report, Morgan Stanley also said on Wednesday (Sept. 17) that “analysis of lead times indicates that initial demand for the iPhone new models is stronger than at the start of the iphone 16 cycle in 2022, lending early hope that iPhone replacement cycles may be stabilizing and upgrade rates may be improving.”
Preorders for the new iPhone lineup opened Sept. 12, the same day as the Chinese eCommerce platform JD. In fact, as CNBC reported Friday, jd.com saw iPhone-17 sales in the first minute of preorder exceed iPhone 16 sales on that device’s first full day. For trade-in sales of the iPhone 17, it means four times more than the same period last year.
Based on preorder times and consumer feedback, the demand for the new iPhone around the world has been positive as well, said Omdia Research Manager Le Xuan Chiew, in conversation with CNBC. Apple’s iPhone 17, especially the base model, is said to be selling better than expected, according to the report.
iPhone sales have been a bright spot for Apple amid Wall Street’s impatience with the pace of the company’s AI efforts, it was reported in July.
