Apple iPhone 12 models have 'healthy initial demand,' says KeyBanc's carrier survey

Nov. 12, 2020 8:52 AM ETAAPL, AVGO, QCOM, SWKS, SYNABy: Brandy Betz, SA News Editor31 Comments
  • Citing the results of a carrier survey, KeyBanc analyst John Vinh says Apple's (NASDAQ:AAPL) iPhone 12 lineup is off to a "healthy start."
  • A carrier promotion tailwind has helped drive "healthy initial demand, and in particular for the iPhone 12 Pro, where demand is clearly outstripping supply," says Vinh.
  • But the firm's Key First Look data shows "underwhelming" demand, which is likely due to capacity constraints at Apple retail stores due to pandemic safety measures.
  • KeyBanc recommends Overweight-rated Broadcom (AVGO +3.5%), Qualcomm (QCOM +5.4%), Skyworks (SWKS +4.8%), and Synaptics (SYNA +1.4%) as the best ways to play Apple's supply chain.
  • Related: Apple's iPhones have long used in-house silicon, but earlier this week the company began a two-year chip breakup with Intel via new Mac models with custom silicon.

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