Lead times are much shorter this year compared to last year, indicating lower demand. Specifically, the times are as follows:

• 25.5 days for the iPhone 16 Pro Max, compared to 43.5 days last year.

• 18.5 days for the iPhone 16 Pro, compared to 32.5 days last year.

• 9 days for the iPhone 16, compared to 14 days last year.

• 7.9 days for the iPhone 16 Plus, compared to 13.9 days last year.

According to the Morgan Stanley report, the iPhone 16 has the shortest lead time of any iPhone released in the last five years, roughly on par with that of the iPhone 12. However, lead times don’t tell the entire story.

The lead time is based on Apple’s iPhone stock, and the company is famous for never releasing that information. These shorter lead times might indicate that Apple produced enough iPhones to meet the demand rather than a general lack of interest.

Even with the lower sales of the iPhone 12, Apple still saw a blowout quarter nine months after the device’s launch. Initial sales might be lower, but it’s far too early in the iPhone 16’s lifespan to predict how well it will perform overall.

Although the iPhone 16 does come with a load of new and powerful features, they might not be enough to draw in new customers. AppleInsider also reported that people seem to be gravitating toward an upgrade because their previous phone is old — not because they’re interested in newer, advanced functionality like Apple Intelligence. With the talk of a potential recession amid other economic fears, it’s unsurprising that some people might hold off on upgrading until necessary.