Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Apple Inc. (NASDAQ: AAPL) is seeing shorter lead times for its latest iPhone 16 models compared to its predecessors, according to a report released Tuesday by Morgan Stanley. The note suggests improved supply for the tech giant, though the investment bank remains cautious about predicting the overall sales performance based on current data.
Shares of Apple fell nearly 1% in premarket trading on Wednesday following the report.
According to Morgan Stanley, the average lead time for the iPhone 16 in the U.S. is 15.2 days, as of September 24 — 11 days after pre-orders began, as stated also in this article from CNBC. This marks a significant decrease from the 25.7-day lead time for the iPhone 15 at the same point last year and 18 days for the iPhone 14.
Shorter Lead Times Also Evident Internationally
Ka Kit Pang, CC BY-SA 4.0 via Wikimedia Commons
The trend of shorter wait times extends beyond U.S. borders. Internationally, the average lead time for the iPhone 16 stands at 16.3 days, down from 28.5 days for the iPhone 15 during the same timeframe.
While Morgan Stanley analysts attribute these shorter lead times to an improved supply chain, they urge caution in interpreting the data. “While supply is improved, and we hear anecdotes of positive iPhone 16 demand, we still interpret these data points more cautiously,” the note reads.
Notably, lead times for the iPhone 16 Pro and Pro Max models are significantly shorter than in previous cycles. Currently, the iPhone 16 Pro Max has a lead time of 25.5 days in the U.S., 18 days less than the iPhone 15 Pro Max. Similarly, the iPhone 16 Pro’s lead time has shortened to 18.5 days, down from 21.5 days just last Friday.
Caution Over Predictive Sales Data
Despite the shortened lead times, Morgan Stanley warns that these early metrics lack strong predictive power for the entire sales cycle. The trajectory closely resembles past iPhone cycles, with lead times peaking around seven days after pre-orders began.
According to a reliable site, the analysts suggest a greater than 50% chance of potential iPhone production cuts in the coming weeks, a move that could impact Apple's revenue in the December quarter. They anticipate that any production revisions could materialize as early as October, potentially affecting fourth-quarter revenue forecasts.
