Despite Apple’s attempt to pivot towards a services-driven company, analysts are still keenly focused on its hardware sales. Last quarter, the company said supply-chain disruptions hurt its holiday season, though it is now looking to diversify its supply chain into India rather than focusing on China, which will take time and resources. The WSJ reports that iPhone sales are expected to fall around 4% to $48.7B and cites lower consumer interest in Mac computers and wearables. However, Consumer Intelligence Research estimates the iPhone 14 Pro Max, the most expensive model, will account for 24% of all Apple’s iPhone sales.
Another upcoming event to watch for Apple is its annual developer conference on June 5, where it traditionally showcases new software and technology. The WSJ anticipates Apple “unveiling its first new major product in nearly a decade,” an AR/VR headset. Despite that hype, however, the headset is not expected to be a significant source of revenue. Apple needs to stay on the innovation train to justify the increasingly expensive prices of its tech and keep consumers within its walled garden.
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