When Apple Inc. (NASDAQ: AAPL) released its September quarter results, CEO Tim Cook said supply chain issues could cost the company around $ 6 billion in quarterly revenue. December. Since then, reports of production cuts have been plentiful and last week a report on slowing demand appeared to confirm Apple’s woes.
A Tuesday morning report from Taiwan-based DigiTimes cited by MacRumors claims that Apple has increased its planned iPhone shipments 30% for the first half of 2022 and that the company’s shipping target for all of next year is over 300 million iPhone units. That total includes the next iteration of the iPhone, which will likely debut at Apple’s annual fall event in September or October.
If DigiTimes’ report is correct, one of two things (or both) must happen. First, Apple has solved its supply chain issues and believes demand will return. Second, Apple believes the next iPhone will be an even bigger seller than the iPhone 13. Our vote is that both are true.
In the seemingly endless saga of the Apple-Epic Games legal battle, remember that Apple last week filed for relief from an injunction that would require the company to allow app developers to include buttons and external links that customers could use to create purchases outside of the App Store. If the Ninth Circuit Court of Appeals does not grant Apple’s request, the company will have to get those buttons and external links working by Friday morning.
Reuters released a report on Monday night outlining briefs from a group called the Coalition for App Fairness supporting the trial judge’s injunction forcing Apple to adopt the new payments system. In this case, Apple has, according to Reuters, called the coalition “an alter ego of Epic – a kind of Frankenstein monster, created by Epic for the sole purpose of influencing this litigation”.
Trial judge Yvonne Gonzalez Rogers agreed with Apple and this led to another brief from Epic’s legal team claiming that the coalition is “in no way controlled, funded or influenced by Epic. “. Then, Epic’s lawyers “deleted” this brief and submitted a review indicating that the coalition was not “singularly controlled by Epic.”
Reuters reporter Alison Frankel asks the right question: Will all of this be important for the Ninth Circuit? His answer is, unlikely. Stay tuned.
Katy Huberty, Analyst at Morgan Stanley Apple raised its 12-month price target on Apple the share of $ 164 to $ 200, which is equivalent to the current target set by Wedbush. Apple closed at $ 165.32 on Monday and traded around 1.8% in Tuesday’s trading session at $ 168.44. The 52 week stock high is $ 170.30.
One of Apple’s holiday traditions is to make your iPhone screen snow if you type the magic words in the App Store for iPhone and iPad. Macworld has the secret words.
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