Alongside predicting a healthy but stable Apple quarterly earnings report in August, Goldman Sachs analysts say the iPhone 15 lineup will see greater numbers of users upgrading.
Alongside predicting a healthy but stable Apple quarterly earnings report in August, Goldman Sachs analysts say the iPhone 15 lineup will see greater numbers of users upgrading.
Just as Morgan Stanley is saying, Goldman Sachs has told investors to expect no surprises in Apple’s August 3, 2023 earnings call, via an note seen by AppleInsider. Also like Morgan Stanley, though, Goldman Sachs predicts a significant improvement in Apple’s subsequent financial quarters — despite reported concerns about Apple being over-valued.
«With AAPL up 48% year-to-date, driven entirely by multiple expansion, we recognize investor concerns around valuation and downside risks,» say Goldman Sachs analysts, «but continue to believe that Apple’s growing iPhone installed base serves as the foundation for growing monetization per user…»
By «multiple expansion,» Goldman Sachs means what it describes as «earnings power upgrades from developing markets, Vision Pro, iPhone outperformance, and [the] strengthening Apple ecosystem.
