Apple’s September and December quarter financial results should each top current Wall Street estimates, Morgan Stanley analyst Erik Woodring asserted in a research note on Wednesday.
Apple will report results for its fiscal fourth quarter next Thursday. Consensus estimates call for the company to post revenue of $88.9 billion, up 6.6% from a year ago, and profits of $1.27 a share, up three cents.
Morgan Stanley’s Woodring sees revenue for the September quarter of $90.1 billion—and he sees December quarter revenue of $133.7 billion, nicely above consensus at $128.4 billion.
The analyst sees three sources of strength driving results: “remarkably stable” production for the iPhone, iPad, and Mac, with lead times still long for the iPhone 14, and improved component supply. He also thinks an iPhone mix shift toward higher-end models should boost iPhone average selling prices, and more than offset exchange-rate headwinds. He thinks iPhone revenue can grow 10% in both the September and December quarters.
MacDailyNews Take: Yup.
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Under current recession and inflation, let’s pray for AAPL to beat Wall Street expectation. Even Apple has $1 billion in revenue, AAPL could not move a needles. But in God we trust. Amen.