Consensus forecasts are for Apple to report $92.91 billion in revenue for the March quarter with $48.8 billion coming from iPhone sales, according to a FactSet poll of analysts’ estimates.
“We believe iPhone units… could show some upside despite the shaky macro as higher ASPs [average selling prices] and overall upgrade activity on iPhone Pro 14 carry the day,” Ives wrote in a research note on Monday.
Wedbush reiterated its Outperform rating and $205 target price on Apple stock… “We would expect relatively conservative June guidance as this is all about the drumroll to the main event with the anniversary iPhone 15 launch slated for the September timeframe,” Ives wrote.