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Same here! The first order email said ships in 5-7 days. A few hours later my order page said Jan, now it says Oct 26 - Oct 28. Hey, I'll take 2.5 weeks out vs 3 months!
Here's the model I ordered:
Apple Watch Series 7 GPS + Cellular, 45mm Blue Aluminium Case with Pistachio Braided Solo Loop - Size 5
 
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My wife’s watch (42 SS black braided loop) just switched from Jan to launch day (Oct 15) as well. And it moved to Preparing to Ship. That’s quite a correction! Now hers arrives weeks before mine, which is still Nov 1-8 (a bit of a wait but not terrible).

So we’ll be cancelling the backup order with the Cherry Loop but holding off a couple days to be sure.

I’m so glad we didn’t cancel the order before it got corrected.
 
I found out what this was all about after speaking to a Sales Representative. Apparently any of the straps that shows unavailable now were older straps (44mm) that were being clear from inventory. The straps still work fine but have Series 6 branded boxes and aren’t 45mm branded if that makes sense. As long as your order went through your fine.
 
Oh no, I just found out that I am not allowed to cancel my backup pre-order anymore…? As if Apple already ships this thing.. come on. Let me cancel..
 
I’m guessing that the band is your problem? Try an order with your second choice band (if any). I try to see if I can find in store pickup or better shipping with my watch and various band scenarios and it definately varies based on the band I match with.
 
Mine moved from “Jan” back to 10/15 and was showing as “preparing to ship” all week. Then today (wed 10/13) it has suddenly changed back to “order processing” and now shows a delivery date of 10/29 😭😭
 
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