IPhone 12 sales are not slowing down ahead of the ‘iPhone 13’ launch in fall

IPhone 12 sales are not slowing down ahead of the ‘iPhone 13’ launch in fall

IPhone 12 sales are not slowing down ahead of the ‘iPhone 13’ launch in fall

Demand for Apple’s current list of iPhone 12 models remains strong despite a new iPhone launch on the horizon, according to investment bank JP Morgan.

In a note to investors seen by AppleInsiderSamik Chatterjee, an analyst at JP Morgan, highlights a recent survey of US sales trends conducted by Wave7 Research. The survey analyzed the sales volume of various operators in June 2021.

According to the survey, there is limited indication that consumers are putting off buying new iPhone 12 devices, even though the next iPhone lineup will likely debut in early September, just a couple of months away.

Chatterjee says sales data suggests Apple will report better-than-expected iPhone sales in its third quarter. Apple also appears to be in a better inventory position than Android makers when it comes to shortages of chipsets and critical components.

Highlighting some key takeaways from the data, the analyst says that Samsung’s market share in June 2021 declined slightly from month to month. That’s primarily attributable to inventory shortages. Apple’s market share during the same period changed very little.

Despite the larger size of the iPhone 12 Pro Max, the device is doing well. Store representatives indicate that strong demand for the larger iPhone mode could be due to the use of Zoom and its telephoto lens.

And while shortages of chipsets and other components have led to inventory problems for Android makers, Chatterjee notes that Apple has seen little to no impact from supply issues.

“Across all stores, reps see little evidence of customers avoiding iPhone purchases ahead of the iPhone 13 launch, supporting strong volume trends,” Chatterjee writes, adding that JP Morgan will continue to monitor the situation.

Chatterjee is maintaining its Apple 12-month price target of $ 165, which is based on applying a price multiple to earnings of 30 times on a 2022 earnings estimate of $ 5.61.

Apple shares were priced at $ 144.47 in intraday trading on Monday afternoon, down 0.43% on the day.

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