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Demand for the iPhone 17 could help boost the stock price of Apple Inc (NASDAQ:AAPL) going forward. The big question is whether investors will be patient enough to wait for results from the September and December quarters to get a true picture of sales demand.
• AAPL is trading at elevated levels. Check the fundamentals here.
Apple analysts and investors are continuing to track lead times on the new iPhone 17, which could point to how demand there is for the company's latest smartphone.
Deepwater Asset Management Managing Partner Gene Munster has been following lead times for the iPhone 17 for weeks and in a blog post over the weekend, shared the latest finding.
"Since launch, the global lead time data reinforces this optimism: wait times suggest demand is running modestly ahead of last year," Munster said.
Three weeks after the iPhone 17 was released, lead times tracked in eight countries stood at 2.29 weeks, higher than the 2.02 weeks for the iPhone 16, comparatively.
"The bottom line is that three weeks in, lead times this year are about 13% longer than last year."
Munster's latest blog post comes weeks ahead of Apple's fourth-quarter earnings, set for Oct. 30.
That quarter will include minimal results from the iPhone 17, with more of the upside from demand coming in the next fiscal year.
"Latest datapoints still point to upside in FY26," Munster said.
Munster said he expects Apple to have a small miss on fourth-quarter iPhone estimates. The investor said the company will make up for this with first-quarter numbers that "more than offset" the fourth-quarter numbers.
Munster's estimate is for 9% iPhone growth in the fourth quarter, slightly below the 10% estimate "whisper number."
"Overall, I would consider that outcome good enough, since attention will likely shift to December guidance, which I expect to come in ahead of both the published estimates and the whisper number."
Munster expects first-quarter iPhone revenue to be over 10%, higher than a whisper number of 9%.
For fiscal 2026, Munster sees Apple having iPhone revenue growth of more than 8%, coming in ahead of current expectations of 5%.
Apple stock closed Monday up 0.97% to $247.66 versus a 52-week trading range of $169.21 to $260.09. Apple stock is down 1.10% year-to-date in 2025.
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