Apple Facing Supply Chain and Inflation Headwinds, Says Moness Crespi
2022.04.21 22:41
By Sam Boughedda
Investing.com — Moness Crespi analyst Brian White reiterated a buy rating and $199 price target on Apple Inc (NASDAQ:AAPL) shares Thursday but told investors the company faces headwinds.
Apple stock fell 0.5% Thursday.
In a research note, White said, “troubling inflationary forces and the economic impact from the conflict in Ukraine” will result in consumers being more selective in their purchases.
Furthermore, he cited a waning work-from-home trend, which previously drove strong demand for PCs and tablets, adding that “the extent of the unwind is unclear.”
Looking at the recent issues in China, the analyst wrote that the pandemic-driven lockdowns in the country present a supply chain obstacle.
However, they are forecasting “iPhone revenue to remain in growth territory for the sixth consecutive quarter in 2Q:FY22, increasing 10% YoY to $52.76 billion,” with Mac revenue down 3% year over year at $8.81 billion and iPad sales of $6.45 billion, down 17%.
