Funding agency KeyBanc Capital Markets stated on Tuesday that demand for Apple’s (NASDAQ:AAPL) iPhone 15 fashions has been combined, in response to its October Survey.

In a analysis observe, analysts, led by Brandon Nispel, wrote that the agency’s survey reveals that demand for the iPhone 15 and Plus fashions have slowed meaningfully. Nonetheless, demand for the iPhone 15 Professional and Professional Max has remained wholesome and considerably compensated for this decline. 

In line with the analysts, the dearth of recent merchandise in October and the late iPhone launch in September are among the components that might have affected gross sales. 

​​Nonetheless, the analysts consider the current patterns are primarily associated to timing. Nonetheless, they predict decrease improve charges and diminished buyer demand, hurting {Hardware} revenues within the first quarter of 2024. “We view our October service survey and Key First Look Knowledge outcomes as reasonably detrimental for the Apple provide chain,” the agency concluded.

Is Apple a Purchase, Promote, or Maintain?

With 25 Buys and eight Maintain suggestions, AAPL inventory has a Reasonable Purchase consensus ranking on TipRanks. After a 53.07% rally in its share value in 2023, the typical Apple value goal of $201.99 per share implies 6.13% upside potential. 

Disclosure