A report from the financial entity KeyBanc Capital Markets has poured cold water on the Cupertino company, in terms of sales and growth figures. The company’s most powerful days are about to be left behind.
Apple is going to have a difficult time
As reported by the English-speaking news outlet Appleinsider, according to this report “KeyBanc Capital Markets believes that Apple will have a difficult time growing sales, especially in the United States.” Therefore, this same entity has made a cut in Apple’s ratio.
On the other hand, they also reveal the low expectations that JP Morgan has regarding the Cupertino company. And, as has also been learned, from $235 per share, the value now becomes $230, despite the fact that the shipment figures for the iPhone 15 pro Max are at “historical” values, agreement with JP Morgan.
On the part of KeyBanc Capital Markets, they also question Apple’s “ability to meet expectations”, and explain that “in the United States, they expect there to be another decline in the fiscal fourth quarter of 2023.”
This translates into a 2.2% decline in profits from iPhone sales in all of 2023. A drop that has been predicted by KeyBanc Capital Markets. Until now, Apple had managed to maintain a much more dominant position compared to other vendors and manufacturers.
What the other voices say
In the same way that KeyBanc and JP Morgan have positioned themselves with distrust and “non-optimism”, there are other entities and corporations that see Apple with a little more ease. The case reported by Appleinsider is that of data released by CNBC.
“The consensus of the analysts”, as they make known, regarding the growth forecast is that the Cupertino company will be 6%, facing the next fiscal year 2024. This figure counteracts (in addition to being much more optimistic) than the one offered by KeyBanc, which believes that this same benefit, in the aforementioned period, will be 3.5%.
Therefore, we are in a situation where there are two companies that are cutting back on confidence and earnings estimates. For its part, KeyBanc estimates a growth of 3.5%, and that its sales are going to be complicated in the US. On the other hand, JP Morgan lowers the company’s share price. But also, other analysts estimate a growth of 6%. Therefore, it is a setback that places those from Cupertino in a position that is much more in line with the average of the sector in which they compete.