Apple expected to post fourth consecutive quarterly sales decline Thursday
Summary
But Apple warned in August that it expected Mac and iPad revenue to decline by "double digit" percentages, blaming difficult comparisons to a good quarter in 2022 when sales popped after prior supply issues. Morgan Stanley analyst Erik Woodring says that there are four forces working against Apple in the December quarter: An unfavorable comparison, a strong dollar, iPhone supply issues, and a cautious consumer. "Sentiment has turned more challenging for shares of Apple in recent days with increasing concerns around the lower demand for the iPhone 15 Series in China, as well as lackluster consumer spending momentum globally," wrote JPMorgan analyst Samik Chatterjee earlier this week in a note to investors. "We expect Huawei-related pressure on iPhone to be temporary and moderate into FY24 due to significantly outdated chipset on the Mate 60 series," wrote Oppenheimer analyst Martin Yang. "However, we are more cautious on the December quarter given iPhone supply shortages and uneven consumer spending, and believe Apple will guide to a revenue range that is both below normal seasonality and consensus expectations," wrote Woodring, the Morgan Stanley analyst.
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