Wedbush analyst Dan Ives, who rates Apple shares at “Outperform” with a $220 price target, believes that Apple’s coming earnings will be “another flex the muscles moment” for the world’s most valuable company.
Ives believes that iPhone revenues will be in line, “with upside likely,” amid growing “upgrade” excitement around the newest iPhone.
“We would expect relatively conservative September guidance as this is all about the drumroll to the main event with the anniversary iPhone 15 launch slated for the mid-September timeframe,” Ives said, adding that around a quarter of the current iPhone base [250+ million users] hasn’t upgraded in more than four years, something that could lead to a “steadier transition” from the iPhone 14 to iPhone 15…
“At the end of the day, Apple continues to play chess while others are playing checkers,” he said at the time. “We believe the new bull market in tech has begun. We see tech stocks up another 15% second half of the year.”
MacDailyNews Note: As always, we’ll have Apple’s results on Thursday, August 3rd right around 1:30 p.m. PT / 4:30 p.m. ET. followed by live notes from Apple’s conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET.
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