The wallet you ordered is shipping at the same time as your iPhone? Which delivery dates did you get for both? I ordered two iPhone 12 Pros and two wallets the moment the store went live, wallets immediately showed a delivery date of Nov 4-12 while the iPhones had launch day delivery.
never mind. My wallet is coming in November. Apple charged my card twice for some reason lol
In my experience, they will likely not go to Preparing for Shipping until Monday. Then show as shipped as of Wednesday at the earliest.
What they seem to do is ship pallets of the phones to the distribution centers for each country and then ship them individually from there.
some people already have their preparing for shipment and I think shipped already