Apple iPhone 17 Base Model Leads Global Demand, Jefferies Says

Apple's (AAPL, Financials) latest iPhone lineup continues to see strong demand, with the iPhone 17 base model emerging as the clear standout, according to new research from Jefferies.

Analyst Edison Lee wrote that delivery lead times for the 17 Air and 17 Pro have stabilized, but the base model continues to show the most consistent strength across six key markets. U.S. demand rose by roughly 13 days week-over-week, while Hong Kong and other regions held steady.

Jefferies noted that Apple may have trimmed production of the iPhone 17 Air by about 4 million units while raising orders for other models by 10 million, reflecting stronger interest in higher-end variants like the 17 Pro Max.

Lee added that limited premiums on the 512GB Pro Max models in Hong Kong indicate reasonably strong demand a marked improvement from last year's iPhone 16 Pro Max, which traded at discounts within weeks of launch.

The firm attributed the performance to stable pricing, ongoing hardware upgrades, and the introduction of a new orange color that's proving popular with younger consumers.