Delivery time of iPhone 14 Pro model lengthens, JPMorgan Chase has lowered Apple's target price to $151,
CTOnews.com One of Apple's main challenges at this stage is to increase production and supply of two iPhone 14 Pro models. With delivery of both models delayed until after Christmas, investment analyst JPMorgan Chase has lowered its price target for the stock to $151.
The two iPhone 14 Pro models are always in tight supply and demand, and U.S. users who order iPhone 14 Pro or iPhone 14 Pro Max from Apple's official website after November 15,2022 won't be able to get them before Christmas.
CTOnews.com has learned that JPMorgan analysts revealed that the global delivery time for the iPhone 14 Pro model is 41 days, while the delivery time for the iPhone 14 and iPhone 14 Plus is much lower, just two days. The two Pro models have also been extended to 40 days in Germany and 39 days in the UK.
JPMorgan believes that the extended delivery date of the two Pro models is related to Foxconn's current factory in Zhengzhou, China, where Foxconn has experienced a large labor shortage due to the impact of the epidemic. JPMorgan Chase, which set a target price of $200 for Apple shares in April 2022, has lowered it to $151.
