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Investing.com -- Apple’s iPhone 17 base model remains the standout performer in the company’s latest smartphone lineup, according to Jefferies analysts, who said it “continues to show the most consistent strength” across major markets.
“Our tracking shows no delivery lead time for 17 Air/17 Pro in all six markets that we track, same as the previous week,” Jefferies analyst Edison Lee wrote.
“The base model continues to show the most consistent strength, as HK saw a big WoW fall, but the U.S. showed a rise of 13 days, and the rest saw no drop.”
Jefferies stated that overall demand remains strongest for the iPhone 17 base model and, to a lesser extent, the 17 Pro Max.
The brokerage added that Apple “may have cut the order for 17 Air by 4 million (from 10 million to 6 million), but raised the orders for the other models by 10 million,” reflecting stronger demand for higher-end versions.
Lee noted that in Hong Kong, only the 512GB variants of the 17 Pro Max “still trade at a small premium (0.4% to 2%), indicating reasonably strong demand.”
That’s “much stronger than last year, when all variants of 16 Pro Max began trading at discounts as of the third week of launch,” the analyst added.
Jefferies attributed the robust demand partly to “no price hikes for Pro/Pro Max for three years despite ongoing hardware improvements,” as well as “the introduction of a brand new color orange, which appeals to young female consumers.”
While Apple guided for 10% to 12% revenue growth in the December quarter, Jefferies warned that the “unfavorable product mix on 17 vs. 16 could translate into margin pressure.”