Will the iPhone be finished in China in 2024? Morgan Stanley and others are still optimistic

There are reports that iPhone sales in China may be bleak this year, but Morgan Stanley has a different view. According to a report seen by AppleInsider, analyst Eric Woodring said that Morgan Stanley's Greater China team has raised its iPhone production forecast for the June quarter, which includes some new iPhone 16 fall products. While Apple did hit its lowest start in nearly a decade, data in recent weeks have shown room for a 5% increase in production compared with previous expectations. This optimistic estimate stems from communications with Foxconn and combines the strong sales of older iPhones in emerging markets with stable sales outside China.

The report believes:

1. March quarter revenue may exceed expectations
2. The June quarter decline may be less than forecast

Morgan Stanley maintains the target price of Apple stock at $220, believing that new products will help Boosts valuations, but risks:

• Weak global consumer spending
• Tightening App Store regulations

Other investment firm views:

• Wedbush: Growth momentum likely to resume in September quarter
• Loop Capital: iPhone sales Weakness could lead to lower revenue and EPS in 2024 (first since 2016)

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