Funding analyst agency TD Cowen is predicting that Apple’s subsequent earnings name will present little development, however says forthcoming AI options might show vital.
Analysts equivalent to JP Morgan in March 2024, and Morgan Stanley in November 2023, are persistently predicting that AI will enhance Apple’s iPhone gross sales. JP Morgan, although, has predicted that this enhance will are available in 2025 with the iPhone 17 vary.
Now in a observe to buyers seen by AppleInsider, TD Cowen repeats the expectation of an AI enhance, however is much less bullish about it than others, regardless of protecting its $220 Apple price target. TD Cowen set that worth in late 2023, primarily based partially on growing gross sales in India, and it’s once more anticipating to see cargo in that nation enhance.
Its analysts even argue that the declining iPhone demand in China could also be not less than considerably countered by elevated gross sales in what it describes because the “underpenetrated” India.
Total, TD Cowen expects that international iPhone gross sales will likely be down roughly 3% yr over yr, it predicts a seasonal restoration across the launch of the iPhone 16 vary. It additionally predicts that Mac gross sales may have dropped round 4% yr over yr, whereas Companies may have grown round 11%.
TD Cowen expects that iPad gross sales may have stabilized, even forward of the May 7, 2024 launch of the brand new fashions.
Its analysts, although, say that its provide chain sources back up claims that demand for the Apple Vision Pro is falling. Thus far the Apple Imaginative and prescient Professional is just accessible within the US, nonetheless, and demand will all the time be highest on the time of launch.