Apple Sold Over 40 Million iPhone 13 Models During the Holiday Season, Says Wedbush Analyst

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

iphone 13 pro max display bleen
Last year, reports began emerging that demand for ‌iPhone 13‌ models was slowing ahead of the holidays as delivery estimates for ‌‌iPhone 13‌‌ models started to improve.

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

Based on our supply chain checks over the last few weeks, we believe demand is outstripping supply for Apple by roughly 12 million units in the December quarter which now will add to the tailwinds for Cupertino in the March and June quarters as the supply chain issues ease in 1H22.

According to Ives, China has been a major source of strength for Apple over the last 12 months and a key region for ‌iPhone‌ sales, particularly in relation to increased market share due to the "multi-year supercycle" afforded by the iPhone 12 and ‌iPhone 13‌.

According to Ives, roughly 230 million of 975 million ‌iPhone‌ users worldwide haven't upgraded in the last three and a half years, and the analyst believes Apple's continuing smartphone sales will provide highly influential tailwinds as excitement builds for Apple's much-anticipated mixed reality headset, which is expected to be announced in the summer.

Ives says the "linchpin" to Apple's valuation re-rating remains its services business, taking in the likes of Apple Music, iCloud, Apple TV+, and Apple Fitness+, which Wedbush believes is now worth $1.5 trillion. On that basis, Wedbush predicts that despite reports of supply constraints, Apple's chip shortages are a "transitory issue" and "nothing more than a speed bump" on the way to Apple becoming the first $3 trillion market cap company in 2022.

Related Roundups: iPhone 13, iPhone 13 Pro
Tag: Wedbush
Related Forum: iPhone

Top Rated Comments

djcerla Avatar
20 weeks ago
Warren Buffett was right: the iPhone is just a “product that people can’t get enough of”.

Us geeks sometimes don’t have this simple clarity, we get upset and disappointed over things like minor software bugs.
Score: 5 Votes (Like | Disagree)
FloridaScrubJay Avatar
20 weeks ago
Santa Apple has some very busy elf’s this season.
Score: 4 Votes (Like | Disagree)
yellow8 Avatar
20 weeks ago
They keep beating records! Impressive...
Score: 3 Votes (Like | Disagree)
TheYayAreaLiving ? Avatar
20 weeks ago
That’s pretty impressive. Breaking records over here. iPhone is the money-making machine for Apple. It sure has been for the last 15+ years. It’s not going to stop.
Score: 3 Votes (Like | Disagree)
tridley68 Avatar
20 weeks ago
That's a lot of phones.
Score: 3 Votes (Like | Disagree)
Abazigal Avatar
20 weeks ago

The Assimilation Continues.
The logic is fairly straightforward. It's all about the ecosystem now, and services help to add value to Apple hardware and set them apart from android smartphones. So it's no longer enough for the competition to make a phone that beats the iPhone in one area or the other, they have to beat the whole Apple ecosystem. It's a tall order even for Android, and it's going to be flat out impossible for any new entrant.
Score: 3 Votes (Like | Disagree)

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