Apple Earnings Show Demand More Resilient than Investors Thought
Dow Jones
3 hours ago
0957 GMT - Apple's fiscal third-quarter results show that consumer demand for the iPhone-maker's products is more resilient than the company is given credit for, JPMorgan analysts write. The results "reinforce our view that the current product cycle has considerably more momentum than investors anticipated," the analysts say. Strength goes beyond the group's latest iPhone, with demand for Mac computers also expanding, they say. The upcoming rollout of Siri AI will also support consumer demand. However, the positive demand story is eclipsed by high memory costs and broader supply constraints, they say. Apple shares fall 7.2% premarket.
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