Apple’s iPhone builds continue to hold steady “despite anecdotes of weaker China demand,” according to TD Cowen analysts’ forecasts.
Brandon Evans for Seeking Alpha:
Apple is estimated to build 48M iPhone units during the first quarter of calendar year 2024, according to TD Cowen’s forecast, which would be a year-over-year decline of 14%. It drops to 39M for the second quarter, a year-over-year drop of 7%.
“We note that softer China demand and signs of discounting could be a moderate headwind,” said TD Cowen’s Krish Sankar.
Smartphone sales in China increased to 31.8M during January, a 68% year-over-year jump, but consumer demand has remained mixed since the February Lunar New Year period, TD Cowen finds.
Qualcomm expects a decline in demand during the second quarter of 2024 due to typical seasonality, according to TD Cowen’s Matthew Ramsay.
MacDailyNews Take: Steady as she goes until, hopefully, with new AI-driven features, iPhone 16 will kick off a new super cycle for Apple!
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MDN has been talking about a super cycle for the iPhone now for years. – I’m still waiting.
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