Apple (NASDAQ:AAPL) was in focus on Thursday as Loop Capital tweaked its mix shift for iPhone sales ahead of the pending launch of the iPhone 17 lineup.
Shares fell 0.4% in early trading.
For the September quarter, analyst Ananda Baruah now expects iPhone units to rise by 3M, but the blended average selling price should slip by $36. Overall, revenue is likely to rise by $1B to $51B. Total iPhone units sold in the quarter should be around 52M, up from a previous estimate of 49M, while the ASP should be $983, down from a prior view of $1,019.
For the December quarter, Baruah expects iPhone sales to rise 1M units, but also forecasts a $39 ASP decline. Overall revenue should slip $2B, with iPhone revenue of $80B, down from a prior view of $82B. Unit sales should rise to 75M, but the ASP should slip to $1,053 from $1,092.
Baruah has a Hold rating and slightly lowered his price target to $226 from $230.
Cupertino, Calif.-based Apple is widely expected to show off the iPhone 17 lineup in early September, which many expect to include a slimmer model known as the iPhone Air.
