Piper Sandler: Apple’s earnings growth will be tied to the iPhone for at least two years
Analysts at Piper Sandler described Apple’s dependence on its flagship product, the iPhone. This is reported by AppleInsider.
The company’s material says that in 2023 and 2024, the American corporation should increase profits. Apple’s future success is associated with high sales of smartphones. According to experts, in the second quarter of 2023, the IT giant’s revenue will amount to $98.836 billion, which is higher than analysts’ earlier forecast.
The report also notes that the company’s revenue will grow for at least two years. In 2023, it should increase to $400.43 billion, and by the end of fiscal year 2024, to $425.94 billion.
“Apple’s share in the smartphone segment is considered a record,” analysts said. According to experts, the success is largely due to the increased interest of the younger generation in the flagship iPhone. The report notes that the demand for smartphones will remain unchanged for the foreseeable future.
At the end of February, Financial Times journalists noted that young people often prefer the iPhone, as they choose more modern methods of communication. According to experts, young people use instant messengers, rarely choosing to communicate through calls and SMS.
Source: Lenta
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