Conclusion. iPhone X supply had mixed results over the past week with online improving and in-store worsening. We anticipate iPhone X lead times of more than 4 days to continue for the balance of 2017 and expect the iPhone X to reach supply demand equilibrium sometime in January. That’s a slight positive for the outlook for Apple’s Mar-18 quarter.
Online lead times continue to improve. We noted an improvement in global iPhone X lead times (8 countries), exiting the week (Dec 3rd) at 7.7 days. For the week (Nov 27-Dec 3rd) we measured a decline to an average of 10.1 days compared to 14.7 days in the previous week (Nov 20-26th).
Apple Store availability worsens. We continued our daily monitoring of iPhone X availability, capturing 2224 daily in-store data points for 139 of the 271 U.S. Apple retail stores. Availability at U.S. Apple Stores declined to an average of 7% (week of Nov-Dec 3rd) compared to 16% in the previous week (Nov 20-26th).
- This past week (Nov 27-Dec 3rd) availability declined to 7%, compared to 16% in the previous week (Nov 20-26th)
- The sharp drop in supply was after the Thanksgiving holiday weekend
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