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Morgan Stanley Sees Surprise Upside In Apple's iPhone Production

Benzinga Real-time News ·  Dec 22, 2021 18:32
  • $Apple(AAPL.US)$ iPhone production could surprise to the upside this quarter, Morgan Stanley analyst Katy Huberty notes, as lead times are declining to "more normalized levels."

  • Citing a "handful" of data points that the firm has seen over the past month, Huberty mentions that the supply of semi-related components is improving, and iPhone builds in the December quarter are "stable" at 82 million units. 

  • Additionally, Apple sees an improved supply for power management integrated circuits and world-facing camera modules. 

  • All of which suggests that iPhone builds in December are likely to be flat or slightly down month-over-month, compared to a significant month-over-month decline in previous years.

  • Price Action: AAPL shares traded higher by 0.85% at $174.46 on the last check Wednesday.

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