Apple will host a special event on September 12, 2023,At that time, it is widely anticipated that Apple will announce new product lines for the iPhone 15 and Apple Watch Series 9. We'll discuss the industry's expectations for this launch and new products.
We believe continued investment in iPhone 15 and the Apple ecosystem (such as iOS, services, iPad/Mac/Watch compatibility) will drive further growth in iPhone installs by increasing market share and minimising loss. iPhone 15 will drive price/mix growth of iPhone revenue, reflecting similar price growth for Pro/Pro Max (Ultra) and a shift to a higher priced model mix. We forecast iPhone revenue to grow 5% year over year 2024. While we recognize that potential supply chain limitations (such as displays, image sensors) may cause compliance challenges or macroeconomic challenges to delay upgrades, due to extremely low churn rates, the durability of iPhone installed capacity helps ensure that demand is ultimately met, thereby mitigating the impact on profitability.
iPhone 15 released, Pro/Pro Max may increase in price
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