Holiday season

Apple sold more than 40 million iPhone 13 models during the holiday season, says Wedbush analyst

Apple sold north of 40 million iPhone 13 models over the holiday season in a company-record number despite industry-wide chip shortages, Wedbush analyst says Daniel Ives.

Last year, reports began to surface that demand for ‌iPhone 13‌ models was slowing ahead of the holidays as delivery estimates for ‌‌iPhone 13‌‌ models began to improve.

However, in a new note to investors, seen by MacRumors, Ives said demand remains strong for the current iPhone cycle through 2022, with demand exceeding supply by several million units in the December quarter, a positive sign for Apple as the problems supply chain issues begin to resolve in the first half of this year.

Based on our supply chain audits over the past few weeks, we believe demand exceeded Apple’s supply by approximately 12 million units in the December quarter, which will now add tailwinds for Cupertino in the March and June quarters as supply chain issues ease. in 1H22.

According to Ives, China has been a major source of strength for Apple over the past 12 months and a key region for ‌iPhone‌ sales, especially when it comes to increasing market share due to the “multi-year supercycle ” offered by the iPhone 12 and ‌iPhone. 13‌.

According to Ives, about 230 million of the 975 million iPhone users worldwide have not upgraded in the past three and a half years, and the analyst believes that Apple’s continued smartphone sales will provide highly influential tailwinds as excitement grows for Apple’s highly anticipated mixed reality headset. , which is expected to be announced this summer.

Ives says the “keystone” of Apple’s revaluation remains its services business, including Apple Music, iCloud, Apple TV+ and Apple Fitness+, which Wedbush says is now worth $1.5 trillion. Based on this, Wedbush predicts that despite reports of supply constraints, Apple’s chip shortages are a “transitional problem” and “nothing more than a speed bump” on Apple’s path to becoming number one. $3 trillion market cap company in 2022.

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