Mac and Services to Provide AAPL Upside

aapl stock

AAPL investors can still expect an upside when during Apple’s forthcoming earnings call thanks to Mac and services. That’s according to J.P Morgan analyst Samik Chatterjee in a note seen by AppleInsider.

Lead analyst Samik Chatterjee writes that the setup heading into Q1 2021 earnings is “dramatically different than the last one,” since the focus on near-term earnings drivers has moderated after the busy holiday season. Specifically, iPhone builds are slowing down, led primarily by softening smartphone shipments in China and slowing momentum of 5G-equipped iPhone 12 and iPhone 12 Pro sales. Relative to sell-side consensus, Chatterjee believes investors are primed for softer results. However, the analyst still expects modest upside to investor expectations. He cites strong growth in Services and the current momentum in Mac and iPad shipments as the primary driver, despite concerns that work from home trends will wear off. JP Morgan is tracking iPhone revenue in line with expectations.

Check It Out: Mac and Services to Provide AAPL Upside

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