The iPhone 15 Is Doing Well

In an interview with CNBC’s Steve Kovach, Apple CEO Tim Cook noted that the iPhone 15 is faring better than the iPhone 14 did during the 2022 September quarter.

“If you look at iPhone 15 for that period of time and compare it to iPhone 14 for the same time in the year-ago quarter, iPhone 15 did better than iPhone 14.”

To be clear, he was specifically talking about the 6.1-inch entry-level iPhone 15 versus the comparable iPhone 14, which isn’t necessarily surprising as the new model offers a much more compelling upgrade thanks to its powerful new camera system. By contrast, the iPhone 14 was a marginal upgrade over even the iPhone 12 and was a non-starter for most iPhone 13 users.

While iPhone revenue only grew by a relatively modest 2.8%, Cook also added that the iPhone 15 Pro and iPhone 15 Pro Max were constrained due to high demand, meaning that Apple hasn’t been able to get them into customers’ hands fast enough. We’ll likely see the results of the higher-end iPhone models’ popularity in the Q1 2024 holiday quarter results in January.