iPhone X Sold Out; Online Lead Times Improve
Sold Out. As expected, it appears iPhone X is sold out at U.S Apple Stores. This weekend we monitored iPhone X availability at U.S, Apple Stores, as well as global lead times. On Saturday afternoon we found a handful of Silver 64GB iPhone Xs available at Apple stores in the U.S. for same day pick-up. By Sunday evening (Nov 5th), all 139 of the 271 Apple Stores in the U.S. we checked were sold out. We expect iPhone X to be in tight supply for the next 4-8 weeks.
Online Leads Times Improved. As of Sunday evening we observed global iPhone X leads times have improved to 3-4 weeks from 5-6 weeks on Oct 31st. This 2 week improvement is slightly better supply than we had expected, given we anticipated a 1 week improvement by November 5th. We continue to expect iPhone X to reach supply demand equilibrium sometime in January.
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