Apple’s Stock (NASDAQ:AAPL)
Monday saw a little increase in the price of Apple’s stock as the financial company J.P. Morgan highlighted the iPhone 14’s continuing success in the marketplace.
Analyst Samik Chatterjee, who has an overweight rating on Apple’s stock, noted in a research report that the Wave7 August survey of sales patterns in the United States pointed to a fall of iPhone 13 market share by around 500 basis points in the preparation of the debut of the iPhone 14 this month. Chatterjee has an overweight rating on Apple stocks. According to the survey, which cites anonymous sources at a national retailer, it is anticipated that the new product line will perform better than iPhone 13.
As stated by Chatterjee, the decline in market share for the iPhone 13 of 500 basis points in August was comparable to “limited moderation” leading up to the launch of the iPhone 13. Still, it was comparable to the decline of approximately 500 basis points leading up to the launch of the iPhone 12, “implying that consumers were anticipating substantial reasons to delay purchases and upgrade/buy the iPhone 14.”
The analyst said this could “bode well” for the volume outlook of the iPhone 14. Still, it could affect the company’s sales during the fiscal fourth quarter and sales of earlier iPhone models.
The study also found that consumers are progressively demonstrating more interest in the iPhone 14 Pro models, which is in line with what other analysts have suggested, as the high-end smartphones may account for as much as 80% of new iPhone purchases.
On Monday, Apple (NASDAQ:AAPL) announced that it would confirm that it will make specific units of the iPhone 14 in India.
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