Analysts: Apple's strong iPhone 14 / Pro momentum will be tested by "weak consumer buying" this fall
Wall Street analyst Brian White predicts that Apple's upcoming iPhone 14 / Pro line will face weak consumer buying power this fall. Just today, Brian White lowered his price target on Apple stock, dropping 1.9 percent.
Analyst: Apple's Strong iPhone 14 / Pro Momentum Will Be Tested by "Weak Consumer Buying" This Fall
Brian White said in a note to clients that consumers may be more concerned about buying Apple's iPhone innovations in the fall and may want to delay their purchases as the economy weakens and inflation erodes budgets.
Despite this, Apple has been performing well recently. According to Investor's Business Daily, Apple stock has been consolidating at a buy point of $183.04 for 27 weeks. That buy point is 10 cents higher than the all-time high set on Jan. 4.
Apple's portfolio has never been stronger, and its platform has never been more popular. However, Brian White said the economy appears to be in recession, reverse regulation persists and stock market turmoil are among the factors that could affect the tech company.
Earlier reports said Apple had to reduce its fall orders for the iPhone 14 series by 10 percent due to problems with chip supplier TSMC. However, analyst Ming-Chi Kuo thinks otherwise and even predicts that demand for the iPhone 14 series will be stronger in China than even the iPhone 13 series.
Apple's iPhone 14 line of phones will be released this fall and will include four models: iPhone 14, iPhone 14 Pro, iPhone 14 Max and iPhone 14 Pro Max. The Pro Series will be redesigned with a "pill + single punch" screen and a more convex rear camera module.
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