The basic model of the iPhone 17 is breaking demand records.

Apple's latest smartphone series, the iPhone 17 base model, continues to be the company's most impressive player, according to Jefferies analysts. Analyst Edison Lee stated, "This model exhibits the most consistent power performance among major markets."

Lee added, "Our tracking shows that there are no lead times for 17 Air/17 Pro in all six markets. This is similar to last week."

It was noted that the base model saw a 13-day increase in the United States despite a significant weekly drop observed in Hong Kong. It was emphasized that other markets did not experience any decline.

According to Jefferies, overall demand is strongest for the iPhone 17 base model, while there is less demand for the 17 Pro Max. Additionally, it is reported that Apple reduced its 17 Air orders by 4 million (from 10 million to 6 million) while increasing orders for other models by 10 million. This situation indicates a growing demand for the higher-tier versions.

Lee remarked that only the 512GB variants in Hong Kong were trading at "a small premium (from 0.4% to 2%)," which indicates quite a strong demand. "This is much stronger than last year because all variants of the 16 Pro Max started trading at a discount in the third week of the launch," he said.

Jefferies noted that this strong demand could partly be attributed to "no price increase for Pro/Pro Max in three years, ongoing hardware improvements," and the introduction of the new orange color appealing to young female consumers.

While Apple expects a revenue growth of between 10% and 12% in the December quarter, Jefferies warned that the negative product mix between 17 and 16 could lead to margin pressures.