Apple iPhone 16 Pro Boosts Sales, But Base Models Lag, Analyst Says
Portfolio Pulse from Anusuya Lahiri
KeyBanc analyst Brandon Nispel reports mixed results for Apple's iPhone 16 sales, with strong demand for Pro models but weaker base model sales. Despite this, Apple Store spending increased significantly. The news is neutral for Apple's supply chain, including Broadcom, Cirrus Logic, Qualcomm, Qorvo, and Skyworks Solutions. Nispel maintains his ratings and price targets for these companies.
October 08, 2024 | 6:11 pm
News sentiment analysis
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NEUTRAL IMPACT
Broadcom is part of Apple's supply chain, and the news is neutral for the company. Analyst maintains an Overweight rating with a price target of $210.
The news is neutral for Broadcom as part of Apple's supply chain, with no significant changes expected in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Cirrus Logic, part of Apple's supply chain, sees a maintained Overweight rating with a price target of $165.
The news is neutral for Cirrus Logic, with the analyst maintaining the current rating and price target.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Qualcomm, part of Apple's supply chain, has a Sector Weight rating with a fair value of $167.
The news is neutral for Qualcomm, with no changes in the analyst's rating or fair value.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Qorvo, part of Apple's supply chain, maintains a Sector Weight rating with a fair value of $100.
The news is neutral for Qorvo, with the analyst maintaining the current rating and fair value.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Skyworks Solutions, part of Apple's supply chain, has a Sector Weight rating with a fair value of $95.
The news is neutral for Skyworks Solutions, with no changes in the analyst's rating or fair value.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Apple's iPhone 16 Pro models are performing well, but base models are lagging. Despite this, Apple Store spending has increased, indicating strong overall demand.
The strong demand for iPhone 16 Pro models and increased Apple Store spending suggest positive short-term momentum for Apple's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100