Apple reported its Q4 2023 earnings this afternoon, revealing overall revenue of $89.5 billion revenue. While $43.8 billion of that revenue came from the iPhone, Apple also warned investors of how iPhone 15 Pro and iPhone 15 Pro Max supply shortages are continuing to play a role in sales…
As a reminder, Apple’s Q4 2023 covered the months of July, August, and September. This means the quarter includes roughly the first week of iPhone 15 and iPhone 15 Pro sales. Its fiscal Q1 2024 covers October, November, and December.
Speaking to investors and analysts today, Apple CEO Tim Cook and CFO Luca Maestri pointed out that the iPhone 15 Pro and iPhone 15 Pro Max are still facing supply constraints over a month after they were first released.
If you head to Apple’s website today, you’ll find that most iPhone 15 Pro and iPhone 15 Pro Max configurations are back-ordered several weeks. Most of those configurations are also out of stock for in-store pickup at Apple’s retail locations.
Apple, however, expects to resolve these shortages before the end of Q1 2024. “We do believe that later this quarter, we’ll reach a supply-demand balance,” Cook said in reference to the iPhone 15 Pro and iPhone 15 Pro Max.
This means that it should become a lot easier to quickly get your hands on an iPhone 15 Pro sometime this quarter. If you place your iPhone 15 Pro today, however, you’ll still receive it with plenty of time to spare before the holiday gift-giving season begins.
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