Demand for iphones will boost Apple's march and June quarters
Phoenix network technology news Beijing time on January 8 news, investment company Wedbush analyst Daniel & Middot; Daniel Ives, chief operating officer, said that based on conversations with supply chains over the past few weeks, "we believe demand for iphones exceeded supply by 12m in the December quarter and will boost Apple's March and June quarters as supply issues ease in the first half of the year". More than 40m iphones were sold in the year-end quarter, a record, according to Mr Eavis's estimates. China has been an important source of growth for Apple, with Mr Eavis estimating that apple's market share in the country has increased by about 250 basis points over the past 12 months.
Apple is in the business of selling more than hardware. The services business is an important underpinning for apple, which is within a whisker of a $3 trillion market capitalization. Mr Eavis said the services business, valued by Wall Street at $1.5tn, would "further monetise Apple's massive user base and exceed $100bn in revenues in 2024". Apple glasses, likely to be released in the second half of this year, are "highly anticipated" and the introduction of self-driving cars in 2025 will further boost the company's market value.
Eavis maintained his "outperform" rating and $200 price target on Apple, implying 16% upside over the next 12 months. (Writer/Shuangye)
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