Two months after debuting, Apple’s hit iPhone 7 lineup faces a persistent supply shortage, according to Piper Jaffray analyst Gene Munster. Global demand for Apple’s flagship smartphones remains as strong as ever, but supply has failed to catch, and probably won’t in time for the holidays.
Munster surveyed 134 Apple retail outlets in America and found 47 percent of iPhone 7 supplies had been stocked in stores. The 4.7-inch iPhone 7 has 91 percent availability in stores, but the 5.5-inch iPhone 7 Plus has a dismal 3 percent availability.
Munster also tracked the smartphone’s availability in China, where demand for iPhone 7s is as hot as ever. After tracking the online inventory of China Unicom, Munster found that the iPhone 7 lineup had just 16 percent availability in the world’s largest smartphone market.
According to Apple Insider, part of the reason for the sluggish growth in iPhone 7 supply may be the slowdown in international freight shipping, which has delayed smartphone deliveries. South Korean shipping giant Hanjin is mired in a massive bankruptcy that has disrupted global commerce.
In all, Piper Jaffray forecasts 3 percent iPhone unit growth year-over-year for December and that demand will remain strong going into next year. So it’s no surprise that Munster advises investors to buy Apple: “We remain positive on AAPL given our continued belief in a strong iPhone 7 cycle and the iPhone 10 [10 year anniversary edition] potential next year.”
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