As Apple earnings approaches, the financial analysts are getting in their last-minute calls ahead of the earnings release on July 30. Yesterday, Rosenblatt said that iPhone sales were going to disappoint over the next year.
Wedbush says that the Chinese market continues to be ‘tough to navigate’ but demand from Chinese customers appears about the same, perhaps boosted slightly by Apple’s recent price cut measures.
The analyst says that based on checks with supply chain partners, global iPhone demand appears to be on a ‘slight uptick’. Following the rumor mill consensus, Wedbush says they expect three new models this fall, featuring a triple-camera system and ultra-wide lens for the XS and XS Max successors with the new iPhone XR being upgraded to a dual-camera module.
Looking further out, the analysts predict Apple will launch another revision to the AirPods line later this year. ‘AirPods 3’ would reportedly sport design enhancements and offer waterproofing features. The new features will apparently come alongside higher price points. Rumors of water-resistant ‘AirPods Pro’-esque models have been circling for a while.
The company launched second-generation AirPods in March, featuring a new H1 chip for faster connectivity and longer talk time on phone calls, in addition to a wireless-charging enabled case.
Wedbush currently holds an outperform rating on Apple stock with a $235 price target. AAPL closed at $200.02 yesterday.
