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Los Angeles investment firm Wedbush has a new note (via AppleInsider) to its investors, saying that the iPhone 15 Pro Max shortage is now starting. This reflects previous forecasts claiming the high demand for the top-most model in the new lineup.

Prior to the launch of the new series, the firm made predictions about the iPhone 15 pre-orders, stating that they were higher than it had earlier expected. “iPhone 15 pre-orders are still tracking much stronger than we and the Street originally expected and up roughly 10%-12% from iPhone 14 based on our analysis,” Wedbush shared. 

It now claims that the figures complement the launch day demand it has observed for the new series.

“[With] long lines already seen in China, Europe, and the US as the retail excitement for this new generation smartphone from Cupertino matches what we have been tracking online around pre-orders,” Wedbush noted.

The highlight of this demand, nonetheless, is the iPhone 15 Pro Max, which is reportedly stealing the spotlight during the launch day. The firm described it as “a clear standout on this cycle” and suggested that this high demand is causing a supply chain shortage. 

“The big focus of consumers at the Midtown Apple Store today has been Pro Max so far as we believe a scarcity of iPhone 15 Pro Max is starting to build throughout the supply chain.”

This reflects the previous forecasts of other analysts for the iPhone 15 Pro Max in the past weeks. For instance, despite earlier leaks about the price increase, reports claim that customers will still welcome the iPhone 15 Pro Max warmly compared to its siblings in the line.

In August, supply chain analyst Ming-Chi Kuo said that iPhone 15 Pro Max would occupy 35% to 40% of the initial launch shipments of the new series. This makes the model’s shipment 10% to 20% higher than the iPhone 14 Pro Max shipments during the same period last year. The report points out that Apple is confident in the impact of the periscope camera system on the model, saying the exclusivity of the feature in the iPhone 15 Pro Max makes it the “selling point” of the model.

This month, Kuo reiterated this belief alongside market intelligence provider TrendForce. According to Kuo, the iPhone 15 Pro Max will drive Apple’s 4Q23 iPhone revenue, adding the iPhone 15 Pro Max order has increased to 35 million units. Meanwhile, TrendForce supported Kuo’s earlier points. It said that the upgraded camera of the model would be the “star of the show” and that it could produce possible buyers. This, according to Wedbush, is expected as there are 250 million iPhones that have not been upgraded in the past four years.

“Taking a step back, it’s all about the pent-up demand, we estimate 250 million iPhones have not upgraded in 4+ years, massive carrier discounts, and the camera technology/chips in iPhone 15 Pro/Max [are] catalyzing consumers to upgrade,” it revealed in the note.


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