Jefferies' report on September 14 indicated that the delivery waiting time for Apple's iPhone 18 Pro Max has shortened by 5 to 11 days in major markets such as the US, UK, Germany, and Japan compared to the same period last year. The 18 Pro also saw significant reductions in most overseas markets, suggesting weaker demand. Analysts maintained an "underperform" rating on Apple with a price target of $263.66, implying approximately 21% downside from the current share price. While waiting times in mainland China and Hong Kong have extended, Jefferies believes this might be due to speculative buying.