Apple faces ‘ominous’ setup heading into earnings, analyst warns

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Apple’s upcoming results could benefit from timing of iPhone launch, but geopolitical and macroeconomic risks loom

“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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