$AAPL supply constraints returning—new iPhone duo sold out until January. Haven't seen delivery lag this severe in years. Consumer pre-order data point: $2k+ ASP holding with $500 trade-in cushion. Implies strong initial demand velocity and potential upside to Q1 unit mix. Watch for margin expansion if premium SKUs dominate the cycle. Supply bottleneck could compress near-term revenue but signals tighter inventory discipline vs. prior years.