KeyBanc gave Apple a “wait and see” rating.
The Zhitong Finance App learned that according to KeyBanc Capital Markets survey results, demand for Apple (AAPL.US) iPhones was “weak” in April. KeyBanc gave Apple a “wait and see” rating.
KeyBanc analysts said that a survey of iPhone operators showed that last month's sales data fell 21% month-on-month and 14% year-on-year. Demand for the iPhone 15 Pro and Max is still “relatively elastic,” but demand for the iPhone 15 and iPhone 15 Plus remains weak.
Inventories have remained generally stable, indicating a “healthy” level.
Analysts added that the April survey results were “slightly disappointing” after March was viewed as “below average.”
As of press release, the Apple market initially rose 1.02% to $188.18.