![]() ![]() The stock has fallen about 12% so far this year, but has gained 2.4% since the close on Sept. “Tech continues to be under massive pressure because of the Fed rates and risk off, but I think this is setting up for Apple to hold up much better than other tech names and the broader market if this demand story continues, which we believe it will,” he said.Īpple stock is up 1% Tuesday to $155.95 while the ![]() #MARKET WATCH APPLE PRO#Overall, Ives sees consumers’ excitement over the new iPhone 14 Pro to be a positive for the company and potentially, the stock. The path of least resistance when you put all the promotions together is to go with the Pro model.” (TMUS) offering trade-in promotions, Ives said that “financially, it makes a ton more sense to go down the Pro route than the base model. So there’s a lot of pent up demand just in terms of overall upgrade,” he said. ![]() “Based on our estimates, 240 million of 1 billion iPhone users worldwide have not upgraded in over 38 months. Session topics subject to change pending breaking news. Dial-in to connect with top experts and our editors covering the outbreak, to hear the impact on markets, the economy, companies, real estate, and more. #MARKET WATCH APPLE UPGRADE#He also said that a lot of users were overdue for an iPhone upgrade to begin with, and carrier promotions were enough incentive to take the plunge. Join Barron’s Live weekdays at noon, for timely and actionable insights tied to the coronavirus crisis. Ives said that one reason for this is because of the advancements in the iPhone 14 Pro models compared with the base model, such as the improved camera. The popularity of the high-end phones is surprising during a time when many people are struggling with record-high inflation, but that hasn’t stopped shoppers from buying the $1,000 iPhone Pro. “So Apple has to significantly ramp its supply for Pros over the next three to four weeks to start to meet what could be significant demand during the holidays.” “At this pace, there will be minimal inventory in Apple stores or on the website by mid-November,” said Ives. Now, has the opposite of what many thought they would have,” the analyst said.Īnd by opposite, Ives means the company may face supply issues for customers looking to buy phones as gifts headed into the holiday season, forcing earlier purchases. Given the current macroeconomic backdrop, “there was the thought that was going to have a demand problem, not a supply problem. This was a happy surprise for the company. “We saw a lot more customers with the iPhone 13 going to the base model, versus what we see today that heavily skewed toward the 14.” He rates Apple stock at Outperform with a $220 price target. See /privacy for more information.“The iPhone 14 Pro is significantly more popular than the iPhone 13 Pro, relative to customer choice,” Wedbush analyst Dan Ives told Barron’s on Tuesday. For additional advertisement disclaimers. Inclusion of advertisements by podcast sponsors does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. ![]() Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. Learn more at: Ĭheck out the latest in financial blogger fashion at The Compound shop: Groundfloor is an award-winning wealth-tech platform offering high-yield, short-term, real estate debt investments directly to the general public. Cruise Market Watch Ryan Wahlstrom Society & Culture Updates on the lastest trends and happenings of importance to the cruise industry and for fans of cruising. Thanks to our friends at Groundfloor for sponsoring this episode. On episode 63 of The Compound and Friends, Joy Wiltermuth, Michael Batnick and Downtown Josh Brown discuss Future Proof, the housing landscape, Jay Powell and the Fed, the yield curve, recession fears, and much more! This episode was recorded in front of a live audience at MarketWatch's Best New Ideas in Money Festival on 9/22/22. ![]()
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