Despite that, JP Morgan analyst believes Apple is not in trouble and is well-positioned to overcome the headwinds.
and App Store Services segments. Pretty much, JP Morgan will now be trimming the earnings forecast. If you're wondering how on earth is the iPhone 13 related to the iPhone SE's weak demand, it is, pretty much, because the growth estimates are divided into the"iPhone" and"Services" categories. So pretty much, the analyst is now adjusting his expectations on the growth of the iPhone segment in general.
However, Chatterjee stated that the reduction in estimates is"fairly modest given the resilience of high-end smartphones". So, what about the numbers? Here are Chatterjee's predictions, according to the investor note. He believes that Apple will be able to score 245 million iPhone shipments from 2022 . His estimations on specifically the iPhone SE now stand at 24 million units, while his previous estimation was at 30 million.
In the services department, the analyst now sees 15% growth in 2022, instead of 20%. Basically, there is lower growth in new downloads, total revenue, and gaming revenue. But the analyst is far from concerned for Apple. He says that the company is well-positioned to deliver resilient performance nevertheless. His 12-month Apple stock price target remains at $210.Get the most important news, reviews and deals in mobile tech delivered straight to your inbox
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