Analysts at BTIG and Morgan Stanley took a quick glance at Apple’s guidance for next quarter and concluded that the figures aren’t doable without a new product launch, specifically a new iPhone.
BTIG’s Walter Piecyk says, “We don’t think that Apple can hit its newly issued revenue guidance for the September quarter unless it launches new products.”
He argues that the revenue estimated by Apple for Q4 “would more typically drop multiple billions if the company had no new products planned.”
Piecyk is convinced this new product will be the next-generation iPhone, because of its high profit margins.
And Katy Huberty with Morgan Stanley agrees, stating that “Apple provided a wider than normal revenue guidance range of $3B, noting many moving parts in the September quarter [...] which coincides with suppliers ramping iPhone shipments in September.”
The only problem is that fall begins September 22, and Apple’s deadline for those generous estimates is September 28, 9to5mac reports.