“In our view, the combination of a downtrodden economy plagued by pernicious inflation, an emboldened Huawei, a new iPhone family with only incremental
Apple AAPL, +0.56% released all four of its iPhone models at the same time this year, which is a potential tailwind to September-quarter revenue growth relative to last year, when Apple conducted a staged launch. That said, White thinks the iPhone 15 cycle will be “uninspiring” given the maturity of the smartphone market and a tough macroeconomic backdrop.
He nonetheless continues to rate the stock a buy, citing the company’s services business as one upbeat factor.
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