Credit Suisse: Apple’s iPhone 14 series will sell just fine, thanks
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Credit Suisse: Apple’s iPhone 14 series will sell just fine, thanks
Tuesday, September 6, 2022 12:17 pmNo Comments
After Counterpoint Research last week reported that iPhones accounted for more than half of the smartphones in active use in the U.S. during the second quarter, Credit Suisse analyst Shannon Cross reiterated her Outperform rating on Apple stock on Tuesday. Cross sees the strong product usage driven by high customer satisfaction and retention, market share shift from other phones as well as increased 5G adoption.
Rumored next-gen iPhone 14 Pro Max replicaKarishma Vanjani for Barron’s.:
Apple’s stock has declined 12.3% to $155.81 this year, as of Friday’s close, but has held up better than the other tech megacaps like Microsoft and Amazon, which have both fallen 24%. Cross has a $201 price target on Apple stock.
With this cycle, Cross expects the company to narrow its product line by getting rid of the iPhone mini and further differentiating the Pro models with exclusive features, leading micro processor chips – A16 chip – and better camera and battery features, an upgrade [about which] consumers are most focused.
The “base models will likely be positioned to support margins, using the A15 platform and other components from legacy models,” she said.
MacDailyNews Take: And, with the better differentiation between Pro and base model iPhone 14 models, Apple’s iPhoen mix will improve leading to an even stronger iPhone ASP.
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