J.P. Morgan reported that Apple's (AAPL, Financials) iPhone 16 lead times are now aligning with the iPhone 15, signaling improving demand for the new models; the analyst firm maintained its Overweight rating on AAPL.

Following the debut of the iPhone 16, delivery lead times for the Pro models started to vary across all areas following a consistent four-week timeframe. A study by analysts under Samik Chatterjee found that base models had a little increase in lead times.

While typical lead times for the iPhone 16 were below those of the iPhone 15 until week 5, the research noted that they are tracking similarly, suggesting demand recovery.

Base model wait times in the United States were somewhat reduced; the iPhone 16 and 16 Plus lead times were three days (down from four days in week five). From 21 and 28 days the previous week, Pro and Pro Max models saw lead times cut to 15 and 21 days, respectively.

Base models in China had longer lead times; the iPhone 16 and 16 Plus tracked at four days, up from one day in week five. From 20 and 26 days, respectively, Pro and Pro Max lead times were cut to 14 and 19 days.

While the Pro series saw modest increases throughout Europe, basic model delivery times were consistent.

This article first appeared on GuruFocus.