Bart Y

This is another great example of how the Apple Watch is saving lives.  This guy was bleeding for a long while from the esophagus, stomach, and duodenum,cause unsaid but most commonly from chronic alcohol or NSAID use, sometimes via other medications as well.

Same heart rate alerts will be useful for my own handicapped daughter who has had two GI bleeds from her middle and lower gut in the last year (short gut syndrome and chronic intestinal inflammation), the most recent in early January.   We’re getting her an Apple Watch 8 within the next two weeks.

Hmm, seems to me IF Spain had suffered a 41% iPhone YOY drop, which I suppose was entirely possible given tough compares from 2022, the rest of Europe made up for the drop and Apple iPhones ended up +1% by units sold compared to drops for all other vendors save TCL in the European smartphone market (see the chart in the linked article above).  Samsung came in with drops of 16% unit marketshare and despite higher ASP’s, a 6% drop in estimated revenues.  With higher ASP’s due to popularity of iPhone 14 Pro models, per Apple’s CYQ1 2023 (actual Q2 FY2023) YoY for Europe revenue, was $23.95B vs  $ 23.29B, a gain of 2.8%.  Given iPhones and Services make up the bulk of revenues, the contraction of PC/Macs, iPads, and flat Wearables, I think it safe to say iPhones held their own in Europe (which includes India’s growing influence) on a unit sales and revenue basis, plus Japan and Rest of Asia, while falling in Americas and China.  I will also note that in Q1 2023 (Dec 2022 quarter), Cook mentioned that iPhone revenues and overall revenue highs for Spain  were reached in that quarter.  

Last quarter Samsung touted how its Mobile division made YOY 13% more revenue on >sales of S22 Ultra and Foldables ($22.4B USD total) YET glossed over how it made ONLY $2.00B total operating profit, a drop of 19% YOY.  Foldables and S22 flagships should be the most profitable lines so either they aren’t selling well or Samsung is blustering to save face.  And I’d say <10M units is ok but not selling well enough, and certainly not enough for Apple to get into this market.

As always take before copyright owners (your data, track everything) can opt out.  Same old Google, what’s yours is ours, unless you say no, and even then maybe we’ll take it anyway.

How about nothing is yours, and it’s your job to ask permission and then get a decision from the IP owners??? Because that’s the way it’s done by the law, and morally right.  

Too hard for a huge company like yours?  Too ethical?  What happened to “do no evil?”  Oh right, rhetorical question.

Which price target is correct?

In my opinion, if Loop is specifically discussing ALL iPhone production, 199M is too low or does not include iPhones already in existing wholesale and retail inventory.  US (Americas), European (including MEA and India), Japan, and Rest of Asia sales were up as was revenues in FY24Q1.  That did make up for a shortfall of iPhone sales and over all less revenues in China.  These areas are NOT suffering economic downturn woes as China is but ARE having a bumpy but roughly trending upwards bumpy post pandemic recovery.  As their economies improve, so will Apple’s hardware and services improve.

IMO, overall iPhone sales will remain in the 228-235M range, possibly more if a new iPhone SE 4 with full screen display is introduced.  The iPhone 16 with spatial photography & videography, AI enhancements, and updated A18 chips will continue to sell well.  iPhone 11 are now 4.5-5 years old this year, XS/XR are now 5+, and the X is 6+ as is the 8/8+ and older home button models except the SE 2022, so there’s still a huge reservoir of upgradeable iPhones just based on age.  Most will have had or need battery replacement at least once if not twice for peak performance.

FY2023 iPhone revenues were down $5B from 2022 at $200.6B vs $205.5B but still up substantially from FY2021’s $192B.  I expect iPhone revenues to be flat to slightly higher by 2-3% on recovering sales revenues in all but China.