iPhone 14 Plus is still a bust but Pro demand still very strong

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JP Morgan recently cut its AAPL goal worth due to powerful vacation earnings. On the time, its analysts additionally stated that “we begin to see indicators of the product cycle tailwinds starting to fade (iPhone and Apple Watch specifically).”

Now in a brand new be aware to buyers seen by AppleInsider, the agency studies that whereas demand for the iPhone 14 vary is declining, its market share is seasonally increased than regular. The conclusion is predicated on surveys from Wave7 Analysis into gross sales throughout US carriers.

“General iPhone share decreased modestly to 69% throughout the three carriers, vs. 70% in December,” says JP Morgan, “which is healthier relative to share within the month of January for prior product cycles; compares to 67% share for the iPhone 13 cycle and 60% share for the iPhone 12 cycle.”

“iPhone share in any respect three carriers stays elevated above pre-launch ranges and can be seasonally increased relative to prior product cycles,” it continues. “Importantly, the most recent surveys from Wave7 highlighted a major enchancment within the provide chain on the finish of the month of December and early January, notably for 14 Professional and Professional Max fashions…”

These two fashions “accounted for 36% of (the 69% in complete) iPhone share in January (vs. 34% in Nov-22) and general underscored a wholesome combine shift to the high-end iPhones over the previous couple of months.”

The iPhone 14 Professional Max “continues to bag the very best share, whereas the Plus variant was the distant final,” proceed the analysts. “On common throughout all of the US carriers, the iPhone 14 Professional Max had the highest share at 19% for the month of January, adopted by 18% share for 14, 16% for 14 Professional and 14 Plus being the distant final at 7% share.”

JP Morgan notes that the survey used was concluded earlier than the launch of the Samsung Galaxy S23.

Nonetheless, it additionally notes that “curiously, half of the gross sales representatives surveyed additionally advised extra customers are switching from Android to iOS.”

Particularly, 50% of these gross sales representatives surveyed stated customers had been switching from Android to iPhone. Some 5%, or a tenth as many, believed the switching goes the opposite method, from iPhone to Android.

One other 13% imagine the switching is “largely even,” whereas 32% say there’s “largely no switching.”