KeyBanc Capital Markets analyst Brandon Nispel focuses on Apple's (AAPL, Financial) fiscal first-quarter results, due on January 30, on handset sales as the defining element for the results and the company's near-term forecast.
Staying with his "underweight" rating and $200 price target, Nispel points out that Apple's guidance might not satisfy market expectations even if it looks likely to match Wall Street's earnings projections. He notes conflicting data trends; the corporation shows progress over the worse performance of last year but falls short of its usual seasonal performance.
With Apple sales up 2.1% to $71.2 billion, projections for the December quarter anticipate income at $124.33 billion, a 4% increase from the previous year. Nispel does draw attention to challenges including the absence of an AI-driven update cycle, an iPhone 16 ban in Indonesia, and Chinese competitive pressures, though.
Looking ahead, March-quarter iPhone sales could reach $48.11 billion, with Nispel warning that the iPhone SE might lower demand for the iPhone 16. Furthermore limited is growth in iPads, Macs, and wearables.
