Overview
- TD Cowen reports no changes to Apple’s iPhone Air build plan, forecasting about 3 million units in Q3 2025 and 7 million in Q4 2025.
- The firm also says overall iPhone 17 production remains steady at roughly 54 million units for the September quarter and 79 million for December.
- Jefferies notes iPhone 17 and iPhone Air lead times in China are nearly zero and estimates 19% year‑over‑year iPhone unit growth there in the first five weeks of shipments.
- Earlier assessments from KeyBanc, Ming‑Chi Kuo, Nikkei Asia and Mizuho pointed to weak demand and sharp supplier capacity or order reductions for the iPhone Air.
- Apple has not commented publicly, and analysts highlight that its just‑in‑time supply chain can mask short‑term trends and enable rapid production shifts.