Apple targeting 10% growth in new iPhone shipments: BBG

Shares of Apple (AAPL) are moving higher after a report from Bloomberg revealed the company is aiming to ship 10% more new iPhones in 2024. The growth will include a push for AI-enabled tech as the megacap tech stock begins to roll out its Apple Intelligence features into new devices. Apple has also reported over 20% year-over-over growth in its second-quarter PC shipments.

Market Domination’s Josh Lipton and Julie Hyman break down the latest developments for Apple and what it could mean for the company moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino

Video Transcript

We want to get to one trending ticker.

That is one of those mega cap tech stocks.

It’s Apple.

The shares are 1.4% higher today and trading at a record.

This on a report that the company is aiming to ship at least 10% more new iPhones in 2024.

That’s according to Bloomberg.

That growth will be welcomed, of course, by the Tech giant after a sluggish 2023.

And as we talked about a little bit yesterday, some analysts research had sort of been pointing in this direction.

It looks like at least some of it is going to be a I driven, it seems.

Josh.

Yeah.

So this is Bloomberg, citing the sources that Apple is talking about about 10% growth in new iPhone shipments.

Um, so if that report is accurate, it looks like Apple is relatively confident about these New A. I enabled, um, phones.

Um, Bloomberg is right to point out, you know, there’s a caveat here.

Apple did does have an easier comp and an easier comparison here because the company had that that tougher second half of 2023.

There are some other questions too about.

You know how, exactly?

This all rolls out in China.

Um, where there are restrictions.

Um, how that could impact, uh, Apple’s attempts to kind of build a i into the new products.

But, uh, listen, Apple higher today and now up about 20% this year.

Well, and what’s interesting here again is that this is Apple’s plan.

Now, you probably know this better than this, but anybody isn’t Is Apple pretty good at predicting what demand is gonna be like right when it when it makes the shipment plans?

Well, it’s always tough because there’s so many puts and takes there.

I mean, again, obviously give, you know, boost of confidence like you’re seeing here.

I. I think what’s interesting is with this a I tech.

I mean, the big thing here.

What they’re selling is that it’s really a new and improved Siri, right?

That’s really the big selling point in some ways.

And Syria often came in for, you know, a lot of criticism, right?

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And so, to the extent, listen our own Dan Halley, we’ve got to get the tech guys out there to really review it and see if it lives up to snuff.

But if it does, um, that will be the way people do experience JA I.

So if it does live up the expect, that could be a bi a big deal.

And listen, if you’re a bull on the stock, it’s kind of what you’ve been counting on.

You think this a. I enabled iPhone is gonna drive some meaningful upgrade cycle.

Well, and it’s interesting, too, because this is gonna be a little bit of a theme.

I’m realising in our show today we’re gonna talk to the sound hound A I CEO in a little bit of who Who is introducing stuff like this in some vehicles?

Um, we’re also gonna talk about Amazon’s Rufus, which is its Gen A. I interactive bot.

I guess we would call it.

So you know, there are more.

It’s not just Apple.

Of course.

There’s a lot of companies trying this right now.

I think there’s still a big question about how it’s gonna be received by consumers specifically.

And, um, you know, we’ll find out this is the you know, But you’re right to point out, because this is what investors are waiting for, kind of baton being handed off and like OK, talking about a I marketing a I Let’s see.

Real usage.

Let’s see real monetization.

Absolutely.

And not arguing with Siri about where you’re going directions for, for example.