Apple’s Q3 report could potentially highlight its strong iPhone sales presence in China.
Wedbush analysts say that the Cupertino-based company could be ‘flexing its muscles’ with rising sales figures in China. iPhone units are on a ‘clear uptick in demand’ in the region for the third quarter, with ‘overall upgrade activity’ particularly the iPhone 14 Pro. The analytics firm has also been surprised by the vigorous sales of the iPhone 14 despite the inevitably of the iPhone 15 lineup this fall season.
‘Services’ is believed to accelerate for the 2024 financial year due to the 100 million expected iPhone users in the coming 18 months. Wedbush claims that Services might reach a ‘double digit trajectory’ in the future months. iPhone ASPs are going up from $900 to $925, while Services is believed to have a $1.3 trillion worth in valuation. At the end of the report, Wedbush gave Apple an ‘Outperform’ rating.
