Apple is unlikely to reach iPhone 7 supply and demand equilibrium by the end of the December quarter, suggesting stock will remain tight through the holiday shopping season, according to Piper Jaffray analyst Gene Munster.

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Munster checked 134 Apple retail stores in the United States for in-store iPhone 7 and iPhone 7 Plus availability and found 47% of models he checked were available for pickup compared to 40% a month ago. By comparison, he said last year the iPhone 6s lineup was at 100% availability at this time.

iPhone 7 models remain more widely available than iPhone 7 Plus models by a significant margin. In a research note obtained by MacRumors, Munster said iPhone 7 Plus inventory remains constrained, with only 3% of SKUs available in the Apple retail stores he checked compared to 14% a month ago.

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Piper Jaffray said iPhone 7 and iPhone 7 Plus inventory in China continues to be more constrained than on Apple’s home turf. It found 16% total availability of SKUs at 96 China Unicom stores versus the 47% figure in the United States.

Related Roundup: iPhone 7
Tags: Piper Jaffray, Gene Munster, Apple retail

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