JPMorgan says Apple’s Mac supply has normalized

Apple‘s Mac supply chain has normalized, according to analysts at JPMorgan, who said lead times have moderated to a week or less across geographies.

It means Apple customers now have to wait about five days, on average, for a new Mac, compared with a wait time of about 15 days in June. The wait time is a bit longer in North America, where it takes about eight days to get a new Mac, down from 18 days in June.

Mac sales were short of consensus expectations in the company’s third-quarter earnings report and fell 10% year over year. CEO Tim Cook attributed the drop to supply constraints, which means Apple couldn’t make enough computers to meet demand.

In April, Apple warned that parts shortages would hit revenue by between $4 billion and $8 billion, and Apple’s website showed extended shipping times for many Mac models during the quarter. Cook said the hit ultimately came in under $4 billion. 

Apple also announced new MacBook Air models in June that began shipping to customers in July. The MacBook Air is Apple’s best-selling computer.