Apple’s indomitable iPhone soothes skittish Wall Street analysts appeared first on MacDailyNews. Apple’s indomitable iPhone soothes skittish Wall Street analysts appeared first on MacDailyNews. Apple’s indomitable iPhone soothes skittish Wall Street analysts appeared first on MacDailyNews. Apple’s indomitable iPhone soothes skittish Wall Street analysts appeared first on MacDailyNews.
Latest Apple News is loading

Apple’s indomitable iPhone soothes skitt…

Wall Street analysts are impressed with the resilience of Apple’s iPhone sales in a tough and worsening economy. iPhone 14 Pro Max Emily Bary for MarketWatch: Turns out thousand-dollar smartphones

Wall Street analysts are impressed with the resilience of Apple’s iPhone sales in a tough and worsening economy.

Dynamic Island
iPhone 14 Pro Max

Emily Bary for MarketWatch:

Turns out thousand-dollar smartphones are still proving to be essential purchases in a tough economy.

That’s the view of Evercore ISI analyst Amit Daryanani, who said that Apple Inc.’s latest quarterly results “validate not just the diversity of Apple’s revenue stream,” but also showcase “the ‘consumer staple’ nature of iPhones,” whereas investors may see the iPhones more as “a discretionary technology product.”

Wall Street had been nervous about the state of consumer-electronics spending headed into Apple’s Thursday afternoon earnings report, especially given cautious signals about the smartphone landscape from chipmaker Qualcomm Inc. (QCOM) as well as third-party data providers. Apple ended up surprising investors by sporting growth in its iPhone segment, whereas analysts were expecting declining revenue.

Daryanani left with the sense that the iPhone business was “poised to remain stable to modestly accelerate as production normalizes and emerging market share gains start to inflect higher.” He had a $190 price target and an outperform rating on the stock.

Rosenblatt’s Barton Crockett also called out the “amazingly durable iPhone… Apparently, the iPhone 14 Pro Max production constraints that kept most from being able to buy the device in time for Christmas last year, pushed a meaningful portion of buyers into the March quarter. Many waited, instead of canceling.”

MacDailyNews Take: Of course customers waited: If it’s not an iPhone, it’s not an iPhone.

Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post Apple’s indomitable iPhone soothes skittish Wall Street analysts appeared first on MacDailyNews.

original link


X

A whimsical homage to the days in black and white, celebrating the magic of Mac OS. Dress up your blog with retro, chunky-grade pixellated graphics to evoke some serious computer nostalgia. Supports a custom menu, custom header image, custom background, two footer widget areas, and a full-width page template. I updated Stuart Brown's 2011 masterpiece to meet the needs of the times, made it responsive , got dark mode, custom search widget and more.You can download it from tigaman.com, where you can also find more useful code snippets and plugins to get even more out of wordpress.