Shulou(Shulou.com)11/24 Report--

CTOnews.com, December 23 (Xinhua) Citibank analyst Jim Suva (Jim Suva) believes that the shortage of iPhone 14 Pro models this Christmas shopping season is temporary, Apple's revenue will continue to grow in 2023.

CTOnews.com learned that in a research report released by Suva, it was pointed out:

Investor sentiment in consumer technology hardware is very low. Many investors believe that although the overall growth of iPhone in the past two years is strong, there may be a sharp decline in the future as macro inflationary pressures weaken consumer spending. But we think the opposite is true.

There are currently more than 1 billion iPhone users worldwide, and I expect this user size not only to grow, but also to continue to upgrade iPhone to newer models in the next few years.

Our research does not show that smartphone replacement rates are increasing, but our findings are stable and, in some cases, even shorter. This means that users value their equipment and technology and may continue to invest in upgrades on a regular basis.

Suva's optimism about AAPL in 2023 suggests that he has decided to hold Apple's (AAPL) buy rating. Analysts at Citigroup forecast a target price of $175 a share over the next 12 months. AAPL (AAPL) closed at $135.45 yesterday.

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