When your product takes longer to ship, that's usually a problem. But in Apple Inc. (AAPL)'s case, stretching delivery times for the iPhone 17 are actually a sign things are going pretty well.
JPMorgan analyst Samik Chatterjee is tracking iPhone delivery lead times like they're tea leaves, and what he's seeing suggests robust demand heading into the holiday season. The firm maintains its Overweight rating on the stock.
The Numbers Tell a Story
By Week 14 of availability, iPhone 17 lead times ticked up by one day compared to the previous week. That might not sound dramatic, but here's the context: last year during the same period, iPhone 16 lead times stayed completely flat. The year-over-year comparison reveals something interesting about momentum.
Average lead times now hover around five days, compared to three days a year ago. That two-day difference matters because it suggests demand isn't just holding up, it's actually accelerating as we approach year-end. Chatterjee thinks this positions Apple to post double-digit iPhone revenue growth when fiscal first-quarter 2026 results roll around.
The base iPhone 17 models are the real workhorses here. Wait times for these entry-level devices have stretched past one week, making them the primary driver behind the overall demand uptick. Meanwhile, Pro Max lead times have crept higher over the past four weeks, though more modestly.
What's Happening Around the World
Globally, lead times expanded across the entire iPhone 17 lineup compared to the prior week. For home delivery, customers are looking at roughly nine days for the base iPhone 17, three days for the Air and Pro models, and six days for the Pro Max. Compare that to last year when iPhone 16 variants averaged just three days across the board.
U.S. trends mirror the global picture. American customers face eight-day waits for the iPhone 17 and four days for the Air. The Pro and Pro Max models clock in at four and six days, respectively. The good news? If you don't want to wait, all models remain available for in-store pickup as of December 12.
Regional Flavors in China and Europe
China shows some interesting nuances. Base-model lead times expanded a bit, but Pro Max delays actually eased slightly. The Air and Pro models held steady week over week, suggesting demand patterns vary by tier in that crucial market.
Europe broadly tracks global trends with modest increases in lead times. Germany presents a bit of a contrarian data point, with base-model lead times actually declining while Pro and Pro Max waits widened. The UK saw increases across most models.
Despite the longer delivery windows, customers across China, Germany, and the UK can still walk into stores and pick up any variant they want, which suggests Apple is managing inventory reasonably well even as demand picks up.
Price Action: Apple shares traded down 0.94% at $275.65 at the time of publication on Monday.