Apple Inc. is due to report results after Thursday’s closing bell, but a pair of analysts saw something that was “not a good data point” in other earnings out so far.
“If... Apple Inc. is due to report results after Thursday’s closing bell, but a pair of analysts saw something that was “not a good data point” in other earnings out so far. “If anything, we are probably too optimistic by not expecting a steeper decline in upgrade rates in 2023 as the US faces possible economic weakness,” they continued.Upgrade rates measure the percentage of a carrier’s subscriber base that upgrades to a new phone in a given period, and T-Mobile US Inc.’s TMUS postpaid upgrade rate fell to 3.9% in the December quarter from 5.8% a year earlier. Verizon Communications Inc.’s VZ total retail postpaid upgrade rate fell to 5.1% from 5.
Apple is going up 3-5% at the earnings call.