Morgan Stanley analysts do not think the iPhone 15 series sales “downturn”, that this view is wrong, not only this year’s sales will be very strong, and next year’s iPhone 16 series will be even better.
It was previously reported that Ming-Chi Kuo, Sony, and DigiTimes all said that Apple ordered fewer orders for the iPhone 15 series compared to the iPhone 14 series.
Morgan Stanley believes that Apple’s increase in the price of the iPhone 15 series will not have too much impact on sales, and the company is very optimistic about Apple’s current stage of development, maintaining a target price of $215 per share.
Morgan Stanley said in a report to investors:
Despite concerns that the iPhone 15 cycle will weaken, we believe iPhone revs will grow year-over-year in FY24. ASP (average selling price) price growth will be driven by increasing subscriber base and the ease with which Apple can meet its year-over-year growth expectations. The pricing of the iPhone is the most important point. We believe most of the technical upgrades in the iPhone 15 are well known, so we don't expect many major spec surprises, but pricing is a more controversial topic. Several competitors and news outlets are predicting price increases across the board for the iPhone 15, but we don't agree. We don't see any price changes for the other three models in the iPhone 15 lineup, except for the iPhone 15 Pro Max, which will see a $150 price increase due to the addition of a rear periscope lens. Apple's increase in the price of the iPhone 15 Pro Max will have an effective impact on sales.