Apple, Elmer De Witt, Kyle Mcnealy discussed on Mac OS Ken
Vote wrote a note on January iPhone sales this week, though, very little of it made sense to me. Please allow me to read you one part. On a global basis, we estimate iPhone sells through in January was down about 11% year over year, 20.9 million. 700 basis points improvement from the 18% year on year decline in December, 22.6 million. Down 8% month over month following extensive supply chain disruptions late last year. If we extrapolate January 23 sell through, we estimate March 23 quarter sell through is tracking at about 52 million units in line with our sell in estimate. There were three more paragraphs that were even less intelligible, so you tell me. There was fellow Palmer duets Apple three that posted the note, I know I don't know everything, but I can usually pretty much follow notes like these. That was happy to read Elmer de witt's addendum, which said, must confess, I got lost in the details. Glad it wasn't just me. Here are two quotes that did make sense. iPhone strength in China and U.S. offset by weakness in Europe and while China sell through with solid, iPhone sell through improvement in the U.S., was more muted. He's not reaching for the parachute, though. Boat has a buy rating on Apple shares. He has said the UBS price target on this shares at 180 bucks. A somewhat easier to understand note comes our way from Jefferies analyst Kyle mcnealy. He thinks iPhone demand is better than the rest of Wall Street thinks based on the Internet. Apple three posted this one as well. It's got mcnealy saying web traffic to iPhone pages for the month of January at wireless carrier aside and apple dot com was up 2% month over month and down 23% month over month, respectively. Wireless carriers are the bigger channel. So overall, it's tracking ahead of normal historical seasonality down 30% quarter on quarter and street iPhone unit expectations. Down 21%. That plus the fact that people are going for the pro phones more than the others where the current iPhone line that's concerned have him expecting a bit of strength for the March quarter. Now I am not saying he's wrong. But hanging your hopes, your hat or anything else on web traffic feels tenuous, but these are the times in which we live. Quoting his note again, we see Paige traffic tracking ahead of expectations as a positive sign that Apple isn't seeing as much macro pressure as anticipated. At least through January. Nonetheless, we're keeping our estimates unchanged given we're still early in the quarter and any deterioration through March could derail the positivity. Shake it off tank, shake it off. Mister mcneely has a buy rating on Apple shares. He has said Jeffrey's price target on the shares at 195 bucks. While the world ponders the diversification of apple's supply chain, an interesting assertion from Apple and cider, that site sites data from the Indian technology site Inc 24 saying since the start of India's production linked incentive program in August of 2021, Apple has become the largest single job creator in the nation's electronic sector with 100,000 new positions. The site breaks it down to about 62,000 folks working for Apple contract manufacturers, Foxconn, pegatron, and wistron, the other roughly 40,000 work for component suppliers, such as salt comp. Small numbers compared to China to be sure. But it would be hard to argue that this train isn't picking up steam. Surprising news for a North Carolina Apple store Bloomberg says as the Cupertino company suddenly and unexpectedly closed its northlake mall store in Charlotte, North Carolina, permanently. The problem, a bit too much gunplay, it seems. Citing local news reports, Bloomberg says shots were fired outside of a Macy's at the north Lake mall on Tuesday, while another shooting took place in early February, there were additional shootings reported in December and in 2021. So not a rash decision. There was surprising one. Even to employees. The store actually opened for business Wednesday morning though employees were told that day that the store would be closing for good, effective immediately. It was apparently employees who said the shootings were the issue, Bloomberg says Apple confirmed the closure, but declined to comment further on the reasoning. Now the good news, despite the loss of a store, nobody is losing their job. The piece says Apple told employees that there will be no layoffs and that stop at the north Lake mall site would be transferred to the nearby South Park location in Charlotte or rolls working at the company's online store. Plans were already underway for a new store in Charlotte next year. Even before this week's closure, the new store was meant to replace the north Lake store, according to the report. More news in a moment, but first a word from today's sponsor collide and point security powered by people. I was so impressed when I first heard about collide. How they work to make your workplace safer by getting your workers on board with the whole security thing. Collide doesn't just tell them what they need to do, but it educates them as to why. No more IT chasing down smartphones and laptops. Collide gets your team bought in on securing your business. Now, if you're an octave user, collide can get your entire fleet to 100% compliance the same way.