“While the softer macro will clearly play a role in the demand story, we believe the baseline for 220 million iPhone units in is likely a low bar given the pent up demand story that we are seeing globally for Apple,” Ives wrote. The new iPhone is key for Apple, which is facing some concerns about how the broader macroeconomic environment will affect demand for iPhones and other products. He believes Apple’s in-house chips are giving the company more flexibility with margins. Ives told Barron’s via email on Wednesday that it was a “shocker” Apple kept prices unchanged.
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