Wednesday 13th of April 2022 08:53:38 AM

Apple iPhone SE seeing 'lackluster demand,' analyst says

New budget iPhone SE smartphone by Apple Computers unboxing AdrianHancu/iStock Editorial via Getty Images Apple (NASDAQ:AAPL) released the latest version of the iPhone SE last month, but the new smartphone is seeing "lackluster demand," according to TF International Securities analyst Ming-Chi Kuo. Kuo, who has had a reputation for over a decade being an influential Apple watcher, tweeted that the delivery status of the new iPhone SE shows "in stock" on Apple's online stores in a number of countries. This is notable, given that Pegatron is making the iPhone SE and China is experiencing the worst COVID shutdown in recent memory. Apple (AAPL) shares rose nearly 1.5% to $169.96 in mid-day trading on Wednesday. In addition, Kuo tweeted that the delivery time for its high-end MacBook Pros, which are being manufactured by Quanta, has increased to 3-5 weeks following the lockdown, indicating "good demand." On Tuesday, Pegatron said it temporarily turned the lights off at its factories that build iPhones in Shanghai and Kunshan, China, as the Chinese government continues to impose lockdowns in an effort to stem an increase in the region's COVID case numbers. The iPhone SE, along with several other products and services, including Friday Night Baseball on Apple TV+, were announced last month. Last week, investment firm J.P. Morgan trimmed its estimates for the Apple (AAPL) iPhone, citing "limited upside" from the latest iPhone SE, lowering iPhone SE volumes to 24 million from a prior outlook of 30 million.

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