Wall Street analyst Brian White predicts that Apple’s upcoming iPhone 14/Pro series will face weak purchasing power from consumers this fall. Just today, Brian White cut his price target on Apple stock, down 1.9%.
In a note to clients, Brian White said that as a weakening economy and inflation eat into budgets, consumers may be more concerned about buying Apple’s innovative iPhones in the fall and maybe delaying their purchases.
Nonetheless, Apple has been doing well recently. Apple stock has consolidated for 27 weeks at a buy point of $183.04, according to Investor’s Business Daily. The buy point is 10 cents above the all-time high set on Jan. 4.
Apple’s product portfolio has never been stronger, and its platform has never been more widespread. However, Brian White said the economy appears to be in a recession, with persistent reverse regulation, stock market volatility and other factors affecting the tech company.
It was previously reported that Apple had to reduce orders for the iPhone 14 series in the fall by 10% due to problems with chip supplier TSMC. However, analyst Ming-Chi Kuo thinks otherwise and even predicts that demand for the iPhone 14 series in the Chinese market will be stronger than that of the iPhone 13 series.
Apple’s iPhone 14 series of phones will be released this fall, including 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, bringing a more convex rear camera module.
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