iPhone 17 series pre-orders are showing strong demand signals, with Apple's new flagship models experiencing longer delivery times across multiple global markets compared to the previous generation, with this phenomenon being particularly pronounced in the Chinese market.

On September 16, according to Goldman Sachs' latest research report, despite reports of increased production, data analysis shows that iPhone 17 series delivery times are significantly longer than those of the iPhone 16.

Goldman Sachs stated that according to Apple.com pre-order data tracked by the firm, iPhone 17 models across all variants globally have longer delivery times than their predecessors, with the standard version and Pro Max models showing the largest increases, with delivery times extended by 8 days each. The Chinese mainland market performance was particularly outstanding, with delivery times increasing by an average of 17 days, reaching a 27-day waiting period.

Previous analyst reports indicated that planned production for iPhone 17 standard, Pro and Pro Max models increased by 25% year-over-year, while iPhone Air production was three times that of the iPhone 16 Plus. Against the backdrop of increased production, delivery times still extended, indicating extremely strong pre-order demand.

The research report noted that strong pre-order demand signals support Goldman Sachs' expectation for 8% iPhone revenue growth in Apple's fourth fiscal quarter, while low-end channel inventory at the end of Apple's third fiscal quarter will further drive performance growth through channel restocking. Goldman Sachs maintains a "Buy" rating on Apple with a target price of $266, representing over 10% upside potential from current stock price.

**Global Delivery Times Significantly Extended**

According to Goldman Sachs' tracked pre-order data, the iPhone 17 series performed significantly better than previous generation products on the first day of pre-orders. Comparing global delivery times on Apple.com revealed notable extensions across all models.

It's worth noting that even on the fourth day after pre-orders opened (September 15), delivery times remained high, further confirming the persistence of demand rather than just a first-day impulse surge.

**China Market Demand Leading the Pack**

Goldman Sachs stated that from a regional market perspective, Chinese mainland was undoubtedly the brightest star in this iPhone 17 pre-order cycle.

Data shows that on the first day of pre-orders, the Chinese mainland market's average delivery time surged from 10 days for the iPhone 16 to 27 days, a net increase of 17 days, leading all tracked markets in growth rate.

Other major markets also showed strong performance with significant delivery time extensions across regions.

In terms of models, the high-end Pro series remains consumers' first choice. According to Canalys reports on iPhone 16 sales mix since launch, Pro and Pro Max models accounted for 33% and 36% of sales respectively.

This iPhone 17 pre-order trend continues this pattern, with Pro and Pro Max showing significantly longer delivery times than base and Air versions, particularly in the Chinese market where as of the fourth day of pre-orders, base, Pro and Pro Max versions all had delivery times of approximately 5 weeks.

**Strong Demand Despite Increased Production**

The research report stated that the most encouraging point for the market is that the extension in delivery times occurred against the backdrop of Apple significantly boosting production capacity.

According to media reports cited by renowned technology analyst Ming-Chi Kuo, compared to iPhone 16, production increases were substantial across model lines.

Goldman Sachs noted that significant growth on the supply side should have shortened consumer waiting times. However, the actual situation showed delivery times increasing rather than decreasing. This phenomenon can only point to one conclusion: demand significantly exceeded expectations.

Goldman Sachs analysts believe this strong pre-order trend supports their expectation for 8% iPhone revenue growth in Apple's fiscal 2025 fourth quarter, which will also benefit from certain channel restocking, as Apple's channel inventory was at the low end of the target range at the end of fiscal 2025 third quarter.