Sales are weak iphone.

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In midday trading, shares of Apple 

AAPL

iPhone Sales Are Weak. Apple’s Future Depends on Their Strength: Analysts.

Apple stock was digging itself out a hole Monday after yet another Wall Street analyst pointed out weak demand for the iPhone 15.0.07%

(ticker: AAPL) were essentially flat, at $172.80, after starting the session down roughly 0.9%, at $171.40. The stock is up 32% for the year, but has closed in the red for the past six days. A seventh straight day of losses would be Apple’s longest losing streak since January 2022, according to Dow Jones Market Data.

The concern about iPhone 15 demand came this time from J.P. Morgan analyst Samik Chatterjee, who rates the stock as Overweight with a $230 price target.

In a research note Monday, Chatterjee wrote that lead times for the iPhone 15—lead time is the time from purchase to delivery—moderated for the fourth consecutive week, and are now below lead times for the iPhone 14, “in more signs of weaker demand.”

“Average lead times are now tracking to one day for the iPhone 15, 15 days for the 15 Pro, and 25 days for the 15 Pro Max, all of which are in line with or below the lead times for the respective models in the 14 Series during Week 6 a year ago,” Chatterjee said.


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