Goldman says iPhone demand outpacing supply, sees more than 20% upside for Apple shares

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Goldman says iPhone demand outpacing supply, sees more than 20% upside for Apple shares
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Demand is outpacing supply for certain iPhone 15 models, suggesting promising upside for Apple, according to Goldman.

The strong demand for the newly released iPhone 15 family of devices is encouraging for Apple , according to Goldman Sachs. Apple launched its new range of iPhone 15 devices last Tuesday , and began opening pre-orders on Friday across more than 40 regions. The devices will become available starting Sept. 22, and will be expanded into 21 additional markets on Sept. 29.

"Separately, we're encouraged by US carrier promotions available for the iPhone 15 family of devices, which appear largely consistent with year-ago and provide opportunities for consumers to cover the full purchase price of a new phone with an eligible trade-in," he added. Major carriers such as Verizon are holding promotions for the iPhone 15, which will support demand.

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