iPhone 5 supply is catching up with demand, analyst says

Credit: Apple

According to analyst Walter Piecyk, supply and demand for Apple’s new iPhone are “almost in balance.”

In a note to clients on Thursday, the analyst wrote that ship time for the device is about one week away at AT&T, Verizon and Sprint.

However, Apple’s online store still shows a wait time of three to four weeks.

Piecyk wrote that for the iPhone 5, “product supply no longer appears like it will be an issue this quarter and there should be some carryover demand from a supply-constrained iPhone 5 launch in September.”

“We believe that supply demand might soon be in balance, if it is not there already. ”

He believes that the company should, “have no problem hitting our estimate of 47.5 million iPhone 5′s sold this quarter.”

“Apple might be trying to induce their customers to reserve a phone for next day pick up at one of their retail stores in the hopes of capturing additional sales,” he wrote.

“The reservation policy is the same for the iPad mini, but we have been able to find iPad mini inventory increasingly available in the handful of stores that we called.”

On Tuesday, Foxconn CEO Terry Gou acknowledged the difficulties in assembling enough devices to keep up with Apple’s requirements.

“It’s not easy to make the iPhones,” Gou said. “We are falling short of meeting the huge demand.”