Apple Analyst Predicts A September Quarter Revenue Beat, Allays Fears Over Shorter iPhone Lead Times
Portfolio Pulse from Shanthi Rexaline
Morgan Stanley's analyst Erik Woodring predicts Apple will beat revenue expectations for the September quarter, despite shorter iPhone lead times. The iPhone 16's lead times are stable, and supply chain improvements are noted. Apple is expected to ship 56 million iPhones, surpassing estimates.
October 16, 2024 | 7:23 am
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Morgan Stanley's Erik Woodring maintains an Overweight rating on Apple with a $273 price target, citing stable iPhone 16 lead times and improved supply chain conditions. Apple is expected to ship 56 million iPhones in the September quarter, exceeding estimates.
The analyst's positive outlook on Apple's revenue, driven by stable iPhone 16 lead times and improved supply chain conditions, suggests a likely positive impact on Apple's stock price. The expected shipment of 56 million iPhones, surpassing estimates, further supports this view.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100