However, Yang disagreed with the notion that Apple is lagging in the AI market, stating that it's still early in the mass consumer adoption of the technology. He also commented on Apple's "Scary Fast" event, suggesting that the expected chip launches align with Apple's advantage of tight hardware-software integration, benefiting consumers, gamers, content creators, and media consumers.
Key takeaways:
- Oppenheimer has reduced its 12-month price target for Apple from $220 to $200, citing concerns about demand in China and other macroeconomic factors.
- Senior analyst Martin Yang believes that shipments of iPhone, Mac, and iPad will be weaker than expected in the coming quarter.
- Despite concerns, Yang does not believe that Apple is losing ground in the AI market, citing the early stage of mass consumer adoption and lack of meaningful competing devices.
- Yang also commented on the "Scary Fast" event, suggesting that the expected chip launches align with Apple's long-term strategy of tight hardware-software integration, benefiting consumers, gamers, content creators, and media consumers.