Investing.com -- Apple’s new iPhone 17 lineup is showing mixed demand patterns, with UBS analysts cautioning that elevated wait times for the entry-level model may limit average selling price (ASP) upside.

UBS Evidence Lab data tracking iPhone availability across 30 geographies shows “elevated YoY wait times for the Base across key end markets, but relatively muted demand for the other three models.”

The firm said the data supports its view that there could be “upside risk to iPhone builds, driven by the iPhone 17 Base and Air variants.”

Even so, UBS warned that “initial demand mixing to the entry-level iPhone may limit ASP upside in the Sept-25 quarter.”

The analysts pointed to Apple’s pricing strategy, noting that “taking into account the implied price increases for the Air and Pro models, but an implied price decrease for the Base (by raising the starting storage to 256GB),” the overall effect could weigh on revenue per unit.

In the U.S., UBS found wait times for the 17 Base at about 18 days, compared with 11 days for the iPhone 16 Base and 13 days for the 15 Base. By contrast, higher-end models saw flatter or shorter wait times.

The 17 Pro Max, for example, was at ~25 days versus ~24 days for the iPhone 16 Pro Max and ~42 days for the iPhone 15 Pro Max.

In China, the 17 Base wait time is said to have reached ~25 days, up sharply from ~9 days for the 16 Base and ~11 days for the 15 Base. UBS suggested demand there may be “driven by subsidies,” while the availability of the Air variant remains limited.