Cowen: iPhone and Mac Demand will Lead Apple to Meet June-Q Expectations

12 JULY 2022 - Healthy demand for iPhone and the Mac will bring Apple’s June-quarter earnings in line with expectations. That is the thinking of Cowen analyst Krish Sankar. Apple Insider has had a look at a note he wrote. “Despite supply constraints and macroeconomic issues,” the piece says he says that Apple “remains a defensive name.”

As for what’s ahead - #InThisEconomy? “Given increasing concerns of a recession,” Sankar says he and his lowered their “CY23 iPhone sell-in forecast on potentially slower demand for premium devices. However,” he continues, “a macro slowdown could also impact other hardware and service offerings.” So, iPhone sales could slow down, but… so could everything else.

Unfun as that sounds, Sankar’s still doubleplusstoked on Apple stock. He’s got a positive rating on the shares and a 12-month price target of $200.