Apple (NASDAQ:AAPL) may announce several new products, including its iPhone 14 line, at an event on September 7, a tad bit earlier than the previous announcements for the iPhone 12 and iPhone 13. The reason the tech giant may do this is to “minimize” the risk a possible recession has on demand, according to a top analyst
TF International Securities analyst Ming-Chi Kuo tweeted on Thursday that the announcement and shipping date of the iPhone 14 “could be one of the reasons why Apple offered a positive outlook” for its next quarter on its last earnings call.
Kuo too noted that the risk of a global recession is still “growing and unpredictable,” so an earlier launch would help stave off any risk that an economic contraction would have on iPhone demand.
Cupertino, California-based Apple (AAPL) introduced the iPhone 12 line on October 13, 2020, while the iPhone 13 lineup was announced on September 14, 2021.
Apple (AAPL) shares fell less than 0.5% to $173.92 in premarket trading.
Speaking on the company’s earnings call last month, Apple (AAPL) Chief Executive Tim Cook said the iconic tech giant would be able to grow its sales even during a time of uncertainty for the US economy.
Neither Cook, nor Apple (AAPL) Chief Financial Officer Luca Maestri gave exact earnings or revenue forecasts for what is the company’s fiscal fourth quarter, but Maestri said revenue is expected to “accelerate” on a year-over-year basis.
Maestri also said Apple (AAPL) expects its gross profit margins for the quarter to be between 41.5% and 42.5%.
Earlier this week, Credit Suisse upgraded Apple (AAPL) to outperform, citing the company’s massive user base of almost 2 billion installed devices.