Apple to report solid Q4 earnings but may face iPhone shortages, analyst says

Asia's Tech News Daily

iPhone 13

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content.

A Wedbush analyst is expecting Apple to beat across the board when it reports earnings later in October, though he adds that supply constraints could lead to iPhone shortages in the holiday quarter.

In a note to investors seen by AppleInsider, Wedbush lead analyst Daniel Ives says that Apple will deliver clear upside to Wall Street consensus in each of its product categories, despite concerns about an ongoing global chip shortages.

Current consensus expects Apple to report total revenues of $84.8 billion. Ives believes that Apple is likely to beat that by at least $1 billion.

Going forward, Ives does note that supply constraints could be the primary topic of concern among investors and analysts. Apple is likely to need to cut iPhone production numbers because of them, which could lead to December quarter guidance that’s “a bit mixed,” Ives said.

Demand for Apple’s iPhones has been robust across the globe, particularly in the U.S. and China. Ives says that Apple will likely run into an iPhone 13 model shortages of up to 5 million units if consumer demand keeps up at its current pace. However, Ives says that production cuts of five to 10 million units shouldn’t worry investors, since it ultimately “speaks to a stronger demand trajectory than the Street had been anticipating.”

The analyst calls the supply shortages a “speed bump” in a multi-year supercycle that kicked off with the iPhone 12. Apple is still one of Wedbush’s top tech names to own.

“Our favorite large cap tech name to play the 5G transformational cycle is Apple, with the 1-2 punch of its massive services business and iPhone product cycle translating into a $3 trillion market cap for Cupertino during 2022 in our opinion,” Ives writes.

Ives maintains his Outperform rating for Apple and 12-month price target of $185. The sum-of-the-parts valuation is based on Wedbush’s 2022 Apple estimates, include a 16x multiple on Services at $1.3 trillion and a 7x multiple on $2.1 trillion for the rest of Apple’s hardware business.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Black Friday 2021: Get Discovery Plus for just $0.99 per month for 3 months

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Ahead ... Read more »

Sonos Amp is back in stock, plus Black Friday deals on smart speakers

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Select ... Read more »

Demand for iPhone 13 still eclipsing iPhone 12 launch in the United States

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Sales ... Read more »

Best deals Nov. 24: $1,000 off Sony 4K TV, $30 GaN charging hub, more!

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Wednesday’s ... Read more »

How to skip lines at Disney World using Genie+ and Lightning Lane

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Disney’s ... Read more »

TSMC expected to produce Apple's 5G iPhone modem in 2023

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple ... Read more »

Apple Watch credited with saving woman's life after detecting serious heart condition

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. A ... Read more »

Whistleblower casts doubt on Apple's claims that it doesn't silence employees

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Cher ... Read more »

Apple halts online sales in Turkey as economic crisis worsens

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple ... Read more »

Russia demands Apple & other big tech firms establish physical presence in the country

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. The ... Read more »

Driver's license support in Wallet app delayed until 'early 2022'

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple ... Read more »

Apple sues NSO Group over Pegasus iPhone spyware

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple ... Read more »

Black Friday MacBook Pro deals: Grab exclusive savings on 175 configs (including 2021 models)

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple’s ... Read more »

iPhone shipments in China rebound strongly, suggest strong iPhone 13 sales

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. A ... Read more »

Is the new 16-inch MacBook Pro a pro-only machine?

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple’s ... Read more »

Black Friday: Expand your HomeKit smart home with these deals

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. If ... Read more »

Black Friday AirPods Deals: $159 AirPods Pro, $109 AirPods, discounted accessories

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. The ... Read more »

How to unlock your Mac with your Apple Watch running watchOS 8

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. If ... Read more »

Save up to $200 in Anker's Thanksgiving Week sale

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Accessory ... Read more »

Get 12 key Mac apps for $75 in Unclutter's Black Friday app bundle

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. A ... Read more »

Future MacBook Pro may gain retractable keyboard for thinness, screen protection

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple ... Read more »

Best deals Nov. 23: Up to $80 off Samsung portable SSDs, $160 Joule Sous Vide, Mophie powerbank bundles

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Tuesday’s ... Read more »

Xiaomi's stumble allows Apple to reclaim No.2 spot in smartphones

Xiaomi stumbled in the third quarter as it grappled with fallout from the global chip shortage and fiercer competition. © Tang Ke/Costfoto/Barcroft Media/Getty Images Customers buying phones at a Xiaomi ... Read more »

Exclusive: macOS Monterey Shortcuts interview with Matthew Cassinelli on the AppleInsider podcast

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. On ... Read more »

Customers in Asia may face long wait times for iPhones and iPads this holiday season

Apple enthusiasts and first time buyers-to-be in Asia may have a bit of trouble getting their favourite device. According to a report by Nikkei Asia, the iPhone 13 series and ... Read more »

Pixelmator Pro adds automatic background removal, goes on sale

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Mac ... Read more »

Apple's Lisa Jackson wants to protect 'most vulnerable communities' from climate change

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. In ... Read more »

AirTag rival Tile acquired by location tracking platform Life360 in $205M deal

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Tile, ... Read more »

Italy fines Apple, Amazon $230 million over price fixing

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. A ... Read more »

Apple struggling to make enough iPhones, iPads for Christmas in Asia

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Customers ... Read more »

Samsung to reportedly build $17B chip factory in Taylor, Texas

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Samsung ... Read more »

New HomePod mini colors now available in Australia and New Zealand

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Customers ... Read more »

Apple Watch loses ground to Samsung in Q3

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple’s ... Read more »

Holiday gift idea: Save up to 40% on unique art pieces that showcase Apple's industrial design

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. If ... Read more »

Tile acquired by location tracking platform Life360 in $205M deal

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Tile, ... Read more »

iMessage reaction support rolling out in Google Messages

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. A ... Read more »

Apple's Self Repair Service parts store to be run by third party

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. More ... Read more »

Qualcomm, Microsoft deal could explain lack of Windows on Apple Silicon

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Microsoft ... Read more »

Samsung TV Black Friday deals: Save up to $3,500 on Frame, 8K, 4K models

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Samsung’s ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic