However, more conservatively, I'm estimating that Mac will grow 8% in Q4-22 and 2% in Q1-23.Īs has been the trend in the past several years, wearables, (I-Watch) and Services will carry the lion's share of growth at 16-12%, and 15-11% in each quarter, respectively. According to IDC, Mac shipments grew 40% to 10,060 in Q3-22. The drop in worldwide PC shipments also doesn't seem to have hurt Apple. Importantly, this is the first post Covid Dec quarter and single digit growth is still impressive on the back of 33% revenue growth in 2021.
I expect iPhones to grow 5% in Q4-22 and 4% in Q1-22, its biggest quarter of the year. Clearly, there's no lack of demand and as initial reports have shown, the larger and more expensive iPhone 14s are selling better than the smaller base models, whose ASP's (Average Selling Prices) will help Apple's Sep and Dec quarter revenues.Īpple's Revenue Segments (Apple, Fountainhead) The short term drama aside, it's still on its initial target of selling more than 90Mn phones in Q1-2023 (Oct-Dec 2022). There was some consternation about Apple ordering an extra 6 million units for the I-Phone 14 and then walking it back.
Long time Apple analyst Gene Muster re-iterated his faith in Apple claiming that lead times are higher at this stage for the iPhone 14, than it was for the iPhone 13. Q4-2022 and Q1-2023 Revenue Outlook Remains Solid This time around I've bought Apple on dips and believe it would be best line of defense and then some, as we work our way out of this bear market. The Drop in the Tech Bellwethers - FAAMNNG's (Seeking Alpha)Ī flight to quality is common during corrections and bear markets and having seen a few! I've usually resorted to consumer staples and other defensives. The NASDAQ COMP.IND and market leaders "The FAAMNNG's" Meta (Formerly Facebook)(NASDAQ: META), Alphabet (NASDAQ: GOOG), Amazon (NASDAQ: AMZN), Netflix (NASDAQ: NFLX), Nvidia (NASDAQ: NVDA) and Tesla (NASDAQ: TSLA) suffered worse.Īpple ( NASDAQ: AAPL) not surprisingly, turned out to be the safest port in the storm that engulfed the markets this year, dropping "only" 24%, even edging the S&P 500, which is a huge sign of stability and faith in the company. Interest rate hikes didn't spare anyone - the S&P 500 has dropped 25% from its all time high of 4,819 to 3,597. And it's not done yet - the markets are expecting two further hikes of 75 and 50 basis points in the next two meetings left in 2022. In a bid to curb raging inflation, ranging from the core 6% to the headline 8%, the Fed has clearly shown no mercy to investors, taking the Fed Funds rate from 0 to 0.25% to 3 to 3.25%. South_agency/iStock Unreleased via Getty Images The Safest Port in the StormĪ hawkish Fed has raised interest rates five times this year, including a historic and unprecedented three hikes of 0.75% or 75 basis points each in their last three meetings.
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