New iPhone reportedly sees orders cut by 15%, Apple (AAPL.US) market cap briefly evaporates by a hundred billion! JPMorgan calms the market: This is a seasonal realignment, not a demand collapse.

Zhito Finance APP has learned that JPMorgan released its Week 5 "Apple Product Supply Tracking" on October 11: global delivery lead times continued to decline but remained "healthy," with wait times for the iPhone 18 Pro and Pro Max falling from 17 days and 28 days in Week 4 to 14 days and 23 days. But the report highlighted a contrastin the U.S., the largest market for high-end models, the Pro Max delivery lead time remained at 28 days, exactly flat versus the same period last year. JPMorgan's conclusion is that this round of order cuts points to changes in the expected base and launch cadence, not a demand collapse. JPMorgan maintained its "Overweight" rating on Apple (AAPL.US) and a $340 price target.