As expected, there are some spot shortages of certain colors and sizes of the iPhone 18 Pro. Burgundy is proving to be a popular color, but there are also a few spot shortages of Glacier. AT&T’s “delivery by” dates show supply tightness in the 1 TB and 2 TB sizes which are a relatively small percentage of the total iPhone 18 Pro volumes. What will be interesting to watch is AT&T’s 256 GB one-week backlog. If this continues into next week (week 3), it might be an indicator of new customer strength.
The more interesting movements are with the iPhone 18 Pro Max. There is no consistency (particular memory size, color, etc). Both T-Mobile and Verizon are experiencing shortages at the 256 GB size (AT&T can deliever about a week earlier). The iPhone 18 Pro Max backlog worsened this week, which is great for the carriers but not consumers. We expect the 2 TB size to move into backlog by the end of next week if the other size trends hold.
Bottom line: Looks like another strong launch, driven by increased volumes for T-Mobile as their customers move from 24-month to 36-month financing. We anticipate meaningful backlogs for the iPhone Duo when it launches in three weeks.
File is below. Have a great remainder of the weekend!
