Wednesday, February 21, 2024

Analysts: iPhone demand for quarter one has remained ‘surprisingly resilient’

By the end of this year, more than half of all iPhones in use will be second-hand devices, according to CCS Insight.

In a note to clients — as noted by MacRumors — Wedbush analysts Daniel Ives and John Katsingris say that iPhone demand for the quarter has remained “surprisingly resilient.”

They write: The albatross for the June quarter in our investor conversations over the past month have naturally been the Covid lockdowns in China which will negatively impact revenue by between $4 billion and $8 billion as a headwind according to Cook & Co.’s guidance given last month.

As of now we believe iPhone demand is holding up better than expected (despite the various supply issues that have plagued Apple and the rest of the tech sector) and are trending better than management’s guidance thus far in the quarter.

Yesterday the Canalys research group reported that, in the first quarter, iPhone sales grew 19% to achieve a 51% market share, powered by the strong performance of the iPhone 13. 

What’s more, Apple led the global smartphone market in revenue terms in quarter one of 2022 with revenue of over US$50 billion, according to Counterpoint Research.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.