{"id":60046,"date":"2023-09-12T11:31:40","date_gmt":"2023-09-12T15:31:40","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/keybanc-expects-below-average-apple-iphone-sales-growth-in-f4q23\/"},"modified":"2023-09-12T11:31:43","modified_gmt":"2023-09-12T15:31:43","slug":"keybanc-expects-below-average-apple-iphone-sales-growth-in-f4q23","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60046","title":{"rendered":"KeyBanc expects below-average Apple iPhone sales growth in F4Q23"},"content":{"rendered":"
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\u00a9 Reuters. KeyBanc expects below-average Apple (AAPL) iPhone sales growth in F4Q23<\/span>
\n<\/i>\n<\/div>\n

KeyBanc Capital Markets analysts said in a note Monday that the firm’s data shows investors should expect below-average Apple (NASDAQ:) iPhone sales growth in F4Q23.<\/p>\n

The analysts explained that results from the firm’s August Key First Look Data indicate “slightly higher sequential sales of iPhones (+5% m\/m, -5% y\/y), which were above historic seasonal trends, likely reflecting an easy comp from July.”<\/p>\n

“Our data shows Aug. historically has a low delta from Jul. as consumers wait for product releases in Sep.\/Oct. Our KFLD shows Indexed Spending +5% m\/m, slightly above the 3-yr of -1% m\/m, though we believe stronger data in Aug. would likely not offset the underperformance in Jul,” they added. <\/p>\n

“In other words, our data is telling us we should expect below-average growth in F4Q23.”<\/p>\n

While KeyBanc analysts maintained an Overweight rating and $200 price target on the stock, they continue to believe demand is softening in the US with a challenged upgrade cycle.<\/p>\n

The firm is cautious going into F4Q and notes that the weakness in domestic hardware revenue and negative sentiment around China news may pressure the stock in the near term.<\/p>\n

The analysts also state that lowered 2H build expectations and contracting sell-through results in August are negatives for Apple suppliers such as Broadcom (NASDAQ:), Qorvo (NASDAQ:), Skyworks Solutions (NASDAQ:), and Cirrus Logic, Inc. (NASDAQ:) in the near term.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. KeyBanc expects below-average Apple (AAPL) iPhone sales growth in F4Q23 KeyBanc Capital Markets analysts said in a note Monday that the firm’s data shows investors should expect below-average Apple (NASDAQ:) iPhone sales growth in F4Q23. The analysts explained that results from the firm’s August Key First Look Data indicate “slightly higher sequential sales […]<\/p>\n","protected":false},"author":1,"featured_media":48267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-60046","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nKeyBanc expects below-average Apple iPhone sales growth in F4Q23 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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