NEW YORK A Morgan Stanley report showed that lead times for Apple's (AAPL, Financial) iPhone 16 Pro and Pro Max models have grown of late, underscoring robust demand ahead of the first phase of Apple Intelligence, expected to launch on October 28. Though general lead times continue decreasing on a year-over-year basis, the Pro and Pro Max models saw jumps in wait times to 20.5 days and 27.5 days, respectively.

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Slated to be released on the iOS 18.1 update, Apple Intelligence's first phase will likely offer enhancements to Photos and Safari, a new Siri interface, along with improved writing capabilities. Moreover, these changes are likely to be available across all users by December, and non-English upgrades are scheduled by March 2025.

Lead by Erik Woodring, Morgan Stanley analysts have hailed Apple's effective supply chain management for its lower lead times compared to yesteryears. Additionally, early component preparation by suppliers should help prevent supply constraints that usually delay iPhone shipments.

Furthermore, as we look to target the low-end smartphone market, Apple's iPhone SE4 is likely to be widely available by March 2025 for around $499. Also, accessible on October 23 will be the new iPad Mini, tailor-made for Apple Intelligence.

This article first appeared on GuruFocus.