Apple stock was rising early on Monday ahead of the company’s earnings later in the week and just hours before its “Scary Fast” online-only event where it’s expected to unveil new M3-, M3 Pro-, and M3 Max-powered Macs.
Stockholders might hope that will provide some momentum ahead of Apple’s earnings report on Thursday but analysts are skeptical.
“The company has been trying to overcome a pull forward in demand from the early days of COVID-19. Heading into the [Scary Fast] event we are skeptical that a faster processor will be enough,” wrote D.A. Davidson’s Tom Forte in a research note.
Forte reiterated a Neutral rating and $180 target price on Apple stock.
“We see [Apple] stock trading at rich multiples and expect trends in key markets such as the U.S. to remain soft, which puts pressure on Internationally for growth,” wrote KeyBanc analyst Brandon Nispel in a research note on Monday.
MacDailyNews Take: Where do the greatest bullshit artisans – the master bloviators – work their magic, Wall Street or Washington, D.C.?
Of course, Apple’s ‘Scary Fast’ event today will goose Christmas Mac sales!
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Who are lower on the integrity scale, stock prognosticators or lawyers?
Maybe used politicians and used car salespeople rank even lower? 🤣😂
So is this a defensive announcement compared to the Snapdragon Elite? They just want to make sure that current MacBooks beat the SN Elite’s benchmarks?
Qualcomm’s presentation compared their highest end units against the lowest end M2. Qualcomm’s presentation used a lot of non standard benchmarks. Qualcomm left out a lot of details about how they were achieving the numbers they presented, AND would not allow any of the attendees to check any the details of the benchmarks Qualcomm was running. Further, systems running Qualcomm’s Elite series are not expected to ship in full production rates until the second quarter or 2024.
Bottom line: The highest end Elite likely will do poorly against the M2 Max and definitely poorly against the M2 Ultra. If the M3 is even 20% faster than the M2, the M3 will very likely beat the Elite across the board on independently confirmed benchmarks.
While this absolutely does not mean that Apple can rest and never worry about Qualcomm or others, it does mean that Qualcomm is still trailing in performance.
ToTomin: Huh?
Unless Apple releases a fairly priced 27″ (or larger) iMac, I won’t be buying. My intel 27″ iMacs are old but I will hold out as long as possible. If I need to update before anythung larger and fairly priced is released then I will buy my first PC ever.
“Where do the greatest bullshit artisans – the master bloviators – work their magic, Wall Street or Washington, D.C.?”
Sadly, it’s in our Universities, where they train others on how to run DC and Wallstreet…