According to a recent note to investors, which was covered by AppleInsider, Morgan Stanley noted a significant year-over-year increase in Mac shipments, contributing to a robust March quarter revenue forecast. Furthermore, the bank has adjusted its iPad shipment forecast upwards by about 5%, expecting around 11 million units compared to the previous estimate of 10.5 million.
The Services sector, particularly the App Store, is also showing stronger performance than anticipated, leading Morgan Stanley to increase its revenue forecast in this area by 1%.
Despite these positive indicators, the firm has revised its June revenue predictions downward by 1%, citing the impact of a strong US dollar. Additionally, while Morgan Stanley remains watchful over Apple's total revenues—with a keen focus on China revenues and Services growth—it is also looking for indications of increased investment in AI research and infrastructure in Apple's upcoming March 2024 financial report.
Contrasting views from other analysts, such as JP Morgan's outlook, suggest that AI might not significantly affect Apple's earnings until the release of the iPhone 17 in 2025. Meanwhile, Wedbush anticipates AI technologies will drive growth for Apple starting with the iPhone 16 series.
Apple is scheduled to announce its Q2 2024 earnings on May 2, 2024, which will provide further insights into the company's financial health and strategic directions.
