Jefferies Flags Weakening Demand for iPhone 18 Pro Models

Jefferies analyst Edison Lee warned Monday that demand for Apple's iPhone 18 Pro and iPhone 18 Pro Max appears to be softening, pointing to a confluence of market signals that suggest the premium smartphone lineup is losing momentum. The findings were published in a research note that examined delivery windows, secondhand market pricing, and intelligence gathered from Apple's supply chain.

Shorter delivery times are typically interpreted as a bearish indicator in consumer electronics, suggesting that supply is outpacing buyer demand rather than products flying off shelves. When customers can receive a newly launched flagship device quickly — without waiting weeks — it often signals that pre-order and launch-period enthusiasm has cooled relative to prior cycles.

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Resale prices on the secondary market offer another real-time demand gauge, and Jefferies' monitoring indicated those figures are also trending weaker for the Pro models. Softer resale values can reflect reduced consumer appetite for the devices at full retail price, since buyers who might flip units for profit have less incentive to purchase at launch.

Supply chain data rounded out Jefferies' bearish read, with Lee noting order cuts as an additional warning sign. Together, the three data streams paint a picture of an iPhone 18 Pro cycle that may be underperforming expectations for Apple, whose premium tier has historically been its strongest revenue driver. Investors and analysts will likely watch subsequent supply chain reports closely for confirmation or reversal of the trend.

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