Shares of Apple (NASDAQ: AAPL) climbed higher on Monday, adding as much as 3.5%. At 11:42 a.m. ET, the stock was still up 3.3%.

The broader market indexes rallied, no doubt contributing to the iPhone maker's upswing. However, two analysts -- in separate missives -- have concluded that presales of Apple's new iPhone 14 are going better than expected.

Wedbush's Daniel Ives has been keeping a close eye on Apple's website and notes that delivery times have quickly been pushed out to mid-October for the more expensive iPhone 14 Pro models, while the remaining preorders will take at least three weeks to process and wait times are quickly getting longer, according to The Fly. Ives noted that not only are iPhone 14 orders tracking ahead of his expectations, but consumers are ordering more Pro and Pro Max models, which will drive up the average selling price (ASP) for Apple. The analyst theorizes that this consumer demand for the Pro models will also be heavy in China, an important sales region for Apple. 

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Source Fool.com