Apple TV+ Announces Feature Film About Michael J. Fox
Michael J. Fox - Image via Apple
28 APRIL 2022 - And finally today, news of a biopic for Apple TV+ that seems like a “can’t miss.” The Cupertino-streamer issued a press release Wednesday, announcing “a new untitled feature film about the life of beloved actor and advocate Michael J. Fox.”
I normally like to remove words like “beloved” from stories like this. That said, it’s Michael J. Fox. Marty McFly! Alex P. Keaton! Lewis… whatever from The American President.
It’s hard to get a handle on exactly how the film will be handled. Directed by Oscar-winning filmmaker Davis Guggenheim, the release says:
[The film] will incorporate documentary, archival and scripted elements, [and] will recount Fox’s extraordinary story in his own words — the improbable tale of an undersized kid from a Canadian army base who rose to the heights of stardom in 1980s Hollywood. The account of Fox’s public life, full of nostalgic thrills and cinematic gloss, will unspool alongside his never-before-seen private journey, including the years that followed his diagnosis, at age 29, with Parkinson’s disease. Intimate and honest, and produced with unprecedented access to Fox and his family, the film will chronicle Fox’s personal and professional triumphs and travails, and will explore what happens when an incurable optimist confronts an incurable disease. With a mix of adventure and romance, comedy and drama, watching the film will feel like… well, like a Michael J. Fox movie.
Currently in production in LA, New York, and Vancouver - no word on when the film will hit Apple TV+. I will say though, it can’t hit soon enough.
Penultimate Guesstimates Ahead of Apple Earnings
Bernstein Research analyst Toni Sacconaghi - Image via CNBC
Bernstein’s Sacconaghi Sees Apple Beating Earnings, But…
The march to Apple’s Marc-quarter FY2022 earnings continues, with financial analysts throwing darts. We start with Bernstein Research analyst Toni Sacconaghi, who’s kind of making sense.
You read that right.
Apple 3.0 ran part of a note he wrote, wherein he says he sees potential upside in tomorrow’s numbers. According to the Sacconator:
iPhone shipments (particularly in China) remained strong, and supply constraints eased, allowing Apple to whittle down backlogs and replenish inventory.
That’s got he and his expecting revenue and EPS that are just a tiny bit ahead of the Street. Of course, there are things to worry about - partly because of the state of the world and partly because it’s Bernstein Research analyst Toni Sacconaghi. Potential points weighing on the minds of investors:
(1) lock-downs and restrictions in China that are impacting Apple’s suppliers/ manufacturing partners; (2) Apple’s withdrawal from Russia (estimated 2%+ of iPhone revenues); (3) material appreciation in the dollar (-180 bps incremental headwind to 2H revenues vs. 90 days ago) which could also impact gross margins; (4) reports of sluggish demand for iPhone SE & Airpods; (5) the overall health of the consumer, especially in Europe.
Beating expectations will be key, in Sacconaghi’s estimation, as will something like upbeat guidance. Not guidance, but something like it.
Sacconaghi has a “Market-Perform” rating on Apple shares. His price target on the shares in $170.
I’ve gotta say, I don’t think Sacconaghi is making a new kind of sense. I think the world has just hit a level of “Eeyore” that makes Sacconahi sensible. Somebody should do something about that.
See Also Cowen & Co.
Thinking along similar lines as the Sacconator is Cowen & Co. analyst Krish Sankar. Apple Insider writes up a note he wrote. He is also expecting a solid earnings report from Apple and he is also cautious about what’s around the corner.
For last quarter, Mac looks good, iPhone looks good, Services look good, though he expects revenue to show up flat “because of pandemic disruptions to consumer behavior and the lack of new game approvals in China.” For this quarter, Apple Insider has Sankar arguing that “softer iPhone SE demand and lockdowns in key Chinese manufacturing cities could present a risk to Apple's bottom line…”
That said, he is still a fan. Sankar has an “Outperform” rating on Apple shares. His price target on the shares is $200.
Countdown to Call Time
A few more notes like these seem likely between now and tomorrow. After Thursday afternoon, it’s all hindsight. That is when Apple will post and host numbers and a call. Earnings for last quarter will hit Apple’s site after the closing bell at 1:30 Pacific/4:30 Eastern on Thursday 28 April. Then, Apple execs and financial folk will do the conference call thing. That goes off at 2PM/5PM. You can hear that as it happens on Apple’s Investor site. Apple will make it available as a podcast soon after. And - of course - we will recap the call here, on Friday 29 April.
Apple Beta Psychedelic Funkin'
Image via beta.apple.com
Third Round of OS Updates Out to Developers
27 APRIL 2022 - Apple’s caravan of software betas rolls on. Last week, Apple released the second betas of iOS/iPadOS/tvOS 15.5, watchOS 8.6, and macOS 12.4 to both developers and public testers. Now a couple of pieces from Apple Insider say the third betas of the macOS update and the rest are out to developers. While we’ve no timeline on public release, there is interesting news around the betas, starting with a potential fix from pricey hardware.
Latest macOS Beta Improves Studio Display Webcam
Almost as soon as Apple Studio Displays landed on people’s desks, people started complaining about the quality of the hardware’s built-in webcam. Kind of… muddy and subpar. Just as quickly, Apple said the problem would be fixed in a future software update. Much less quickly, that seems to be finally happening. A piece from The Verge has an Apple spokesperson saying that:
…an update to the Studio Display firmware is now available with [Tuesday’s] beta release of macOS Monterey 12.4. This beta update has refinements to the Studio Display camera tuning, including improved noise reduction, contrast, and framing.
I’ve already seen one article that says even after the beta, the camera is still subpar. Worth noting though, it is a a work in progress, hence the whole “beta” thing.
Cordoning Off “Memories”
The other change of note has Apple playing with your memories, specifically ‘Sensitive Locations’ for Memories in Photos. A piece from 9 to 5 Mac says the third beta of iOS 15.5 appears to block such locations from the feature. If you’re not sure what we’re talking about, the piece explains:
…Memories is a feature of the Photos app on iOS and macOS that recognizes people, places, and events in your photo library to automatically create “curated collections” with a slideshow.
Tends to feature happy things. Trips to the beach, trips to Vegas, stuff like that. But some memories aren’t so happy. According to the report:
…the Photos app now has a list of “Sensitive Locations,” so that any photos taken there will never be added to a memory. Interestingly, all the places banned in this version are related to the Holocaust.
Certainly you’d want to remember going to the US Holocaust Museum, for example. Probably though, you don’t want pictures from the Holocaust Museum turning up in a slide show with happy music playing underneath.
It’s a strange change. Probably not a bad one.
Apple Starts Rollout of Latest AirTag Firmware Update
27 APRIL 2022 - There was an Apple update released Tuesday that was not among the many betas. MacRumors says the Cupertino-company hit with firmware build number 1A301 for AirTag.
What changes does it bring? We do not know. When can you have it? We do not know! The piece says:
…Apple plans to provide this firmware on a rolling basis, so not everyone is going to see it right away. 1% of AirTag users [should have received it yesterday], 10% on May 3, 25% on May 9, and it will go fully live to everyone on May 13.
Sure. Friday the 13th. Why not?
Evictions and Assistance in the App Store
Apple Exiting “Outdated” Apps
27 APRIL 2022 - A couple of time sensitive stories for developers. First, a piece from Cult of Mac says Apple’s about to show a bunch of the App Store’s “outdated” apps the exit. The piece says numerous developers say “that their applications that aren’t being actively updated will soon be kicked” from Apple’s market place. Citing a piece from The Verge, Cult of Mac says:
The emails from Apple state, “This app has not been updated in a significant amount of time and is scheduled to be removed from sale in 30 days.”
If the developers ignore the warnings, their apps will be taken down. As Apple says, “If no update is submitted within 30 days, the app will be removed from sale.”
Window Closing on Developer Assistance Funds
You know what might help some developers along on the update process? A bit of Apple’s do-re-mi. It is out there - waiting to be taken, but only for a limited time. A piece from Apple Insider says:
Apple has warned developers they have until May 20 to place an application to the Small Developer Assistance Fund, or else they could miss out on their share of a $100 million class-action settlement.
I think if only five people apply they get to split the hundred-mil, right? Is that how it works? Is that how it works? That’s not how it works. “According to the claims website,” according to Apple Insider, “anyone accepted to be a ‘Settlement Class Member’ who meet the criteria will earn a minimum cash payment ranging from $250 to $30,000.” As for how one meets the criteria, the piece says:
The fund is open to all developers based in the United States who sold paid apps or in-app purchases, including subscriptions, through the App Store between June 4, 2015, and April 26, 2021. The developers also must have earned proceeds equal to or less than $1 million from the US storefront for each calendar year they had a developer account between 2015 and 2021.
More info is available at SmallAppDeveloperAssistance.com.
CORRECTION: An earlier version of this post listed the assistance program URL as “SmallDeveloperAssistance.com.” Thanks to Jim H. for the heads up.
Apple Launching Advanced Product Testing Facility in Ireland
Image via Apple Maps
27 APRIL 2022 - Apple’s opening a new product testing facility in Ireland. A piece in the Irish Examiner says the location, near Apple’s Hollyhill campus in Cork, “will test and analyse Apple products for the whole of Europe…” The site will employ “a range of high-tech equipment including CT scanners and electron microscopes (…) with the aim of improving [product] durability and performance.”
Cathy Kearney, Apple VP of European Operations, calls the location “a natural evolution” given Apple’s four-decades in Ireland. Kearney says the testing facility will be the company’s first such facility in Europe. According to the Examiner, it is only Apple’s third center of its type in the world.
Apple TV+ Announces “Sago Mini Friends” Pre-School Kids Series
Sago Mini Friends - Image via Apple
27 APRIL 2022 - News of a new kids series for Apple TV+. Apple issued a press release last week announcing “Sago Mini Friends,” a show celebrating gratitude based on the award-winning Sago Mini World app. The release says characters in the show:
…express their true thankfulness for all things, big and small, through optimism, kindness, preschool-friendly humor and unforgettable original songs!
That last part sounds like a threat. As for the source material, the release says:
The (…) Sago Mini World app features over 40 games for kids ages 2-5 years old and has been recognized by the Parents’ Choice Gold Awards, the Webby Awards, the Academics’ Choice Awards and the Kidscreen Awards. Sago Mini World encourages children to play, build, create and pretend with thoughtfully designed digital games that spark imagination and curiosity.
The app is obviously out there now. No word on a release date for the show.
Idris Elba’s “Hijack” Headed to Apple TV+
Idris Elba - Image via Apple
27 APRIL 2022 - We’re finally going to see something from Idris Elba’s first-look deal with Apple TV+. The streaming service issued a press release last week announcing the seven-part thriller “Hijack” from Elba’s Green Door Pictures. “Told in real time,” according to the release:
…“Hijack” is a tense thriller that follows the journey of a hijacked plane as it makes its way to London over a seven hour flight, as authorities on the ground scramble for answers. Elba will star as Sam Nelson, an accomplished negotiator in the business world who needs to step up and use all his guile to try and save the lives of the passengers — but his high-risk strategy could be his undoing.
Probably won’t be, though.
No word from Apple on when the series will premier.
Apple TV+ Releases Trailer for “The Essex Serpent” Ahead of 13 May Premier
27 APRIL 2022 - With “The Essex Serpent” drawing closer, Apple TV+ has released a trailer for the show. The Cupertino-streamer issued a press release Tuesday, teasing the title. According to that:
…“The Essex Serpent” follows London widow Cora Seaborne (Claire Danes) who moves to Essex to investigate reports of a mythical serpent. She forms a surprising bond of science and skepticism with the local pastor (Tom Hiddleston), but when tragedy strikes, locals accuse her of attracting the creature.
The first two episodes hit Friday 13 May, followed by one episode a week on subsequent Fridays through 10 June. You can catch the trailer below.
“Severance” Star Adam Scott Gets 2022 Best Actor Webby
27 APRIL 2022 - another award win for an Apple TV+ actor. Cult of Mac says “Severance” lead Adam Scott will get this year’s Webby award fro Best Actor. According to the Webby website:
Scott strikes multi-dimensional chords with the audience. His performance is incredible, it leaves the audience questioning at every turn of the show. The audience is gripped the whole way along and Adam’s performance is why. For bringing his talents to the streaming screen in Severance, it is our pleasure to honor Adam Scott at the 2022 Webby Best Actor.
Not to quibble, but Scott’s performance is one reason why. The writers, the directors, the designers (who do like triple duty in that show), and the people with whom he’s working do kind of help.
Not to take away from his Webby. He’ll get the award next month in the city so nice they named it twice. The 2022 Webby Awards ceremony will be held on Monday 16 May in New York, conveniently located in New York.
CIRP: iPhone 13 Line Crushing it in the States
iPhone 13 - Image via Apple
26 APRIL 2022 - Roughly halfway through its time at the top, iPhone 13 continues to crush it in the states. That’s the word from boutique industry analytics firm Consumer Intelligence Research Partners (CIRP). By the firm’s reckoning, models across the iPhone 13 line accounted for 71% of smartphone sales in the March-quarter in the U.S. “In contrast,” says the release, “the then-new iPhone 12 models had only 61% of sales in the year-ago March 2021 quarter.”
Despite continued concerns around inflation, CIRP is noting an interesting trend: People aren’t holding onto old phones as long as they used to. According to the firm:
After several years of buyers keeping a previous phone longer, in the past year buyers are now keeping a previous phone for a shorter time. In the March 2022 quarter, 20% of buyers reported having their previous phone for three years or longer, compared to 34% in the March 2021 quarter…
In the March 2022 quarter 47% of buyers had their previous phone for two years or less, compared to 35% in the March 2021 quarter.
Wedbush Jazzed Over iPhone Strength in China
26 APRIL 2022 - While CIRP focuses on iPhone strength in the States, Wedbush analyst Daniel Ives is seeing strength for Apple’s rap-rod both here and in China. Apple 3.0 had the analyst tossing in his two-cents ahead of this week’s Apple earning report.
According to Ives, he and his team think “the underlying iPhone 13 demand story for Cupertino both domestically and in China is trending ahead of Street expectations.” They also “believe the pent-up demand story is still being underestimated by investors and will be a laser focus of the Street later this week.” On China specifically, Ives & Co:
…estimate that Apple has gained (…) market share in the key China region over the last 12 months on the heels of its 5G iPhone 12/iPhone 13 Tag Team product cycle.
And folks there are buying at the high-end, “with more consumers focused on the Pro/Pro Max,” in Ives’ estimation. Assuming that’s so, that’ll be good for Apple’s bottom line.
Ives has an “Outperform” rating on Apple shares. His price target on the shares is $200.
Report: Apple Hires Anti-Union Law Firm as Retail Workers Seek Union Votes
Apple Cumberland Mall Store - Image via Apple
26 APRIL 2022 - So, Monday felt like a bad day for the little guy. No, this is not the musky scent of Twitter dissent. Rather, it is news that Apple has lawyered up. “To fight congress?” you ask, “Or to fight the EU?” Actually, to fight unionization moves among retail employees. We heard here yesterday about moves to unionize two Apple stores - one in Atlanta, GA and one in New York, NY. Now, a piece from The Verge says:
Apple is working with anti-union lawyers at Littler Mendelson in an escalating fight with retail workers in Atlanta who have filed for a union election. Though the company has not publicly stated its stance on Apple Stores unionizing, the move sends a strong signal that it plans to oppose workers organizing for better pay and working conditions.
Littler Mendelson, by the way, is the same law firm working with Starbucks against employee moves to unionize its stores, according to the report.
The Atlanta Apple store employees are trying to unionize with the Communications Workers of America (CWA). Responding to the law firm news, CWA Secretary-Treasurer Sara Steffens said:
By retaining the notorious union busting firm Littler Mendelson, Apple’s management is showing that they intend to try to prevent their employees from exercising their right to join a union by running the same playbook as other large corporations… The workers at Starbucks, another Littler client, aren’t falling for it and neither will the workers at Apple.
For its part, Apple declined to address its relationship with the law firm. Instead, Apple spokesperson Nick Leahy issued a statement, saying:
We are fortunate to have incredible retail team members and we deeply value everything they bring to Apple. We are pleased to offer very strong compensation and benefits for full time and part time employees, including health care, tuition reimbursement, new parental leave, paid family leave, annual stock grants and many other benefits.
Downtime for Apple Music and App Store Privacy Labels
26 APRIL 2022 - Two stories Monday that looked bigger than they actually were - and may have been tied together on the back-end (nothin’ kinky). Early in the morning on Monday, MacRumors ran a piece saying that the App Store Privacy Labels had mysteriously disappeared from apps in the App Store. Launched in December of 2020 and meant to “give users insight into what information an app collects and shares about them,” kind of tough to do without them there.
That was story number one. Not much later Monday morning came story number two, this one from TechCrunch, that had Apple confirming issues with Apple Music and the App Store. Users may have experienced “a problem”or “intermittent issues” with each service, according to Apple. The TechCrunch piece had Downdetector indicating that the App Store problems started around 6:30AM Pacific/9:30 AM Eastern, while Apple Music problems were said to have started at 4:30AM Pacific/7:30 AM Eastern.
None of which is what Apple said.
When I checked the site around 10AM Pacific/1PM Eastern, Apple’s system status page said that the problems had started about 1.5-hours earlier and were still ongoing. It actually said that for several hours, though when I checked again at around 3PM Pacific/6PM Eastern, the message said the issues had started at 1:15 AM Pacific, and were resolved right around 9:00 AM Pacific, which is wildly different from what it had said for most of the day and what Downdetector down detected.
Checking late afternoon/early evening - not only is Apple Music humming a tune, the mysterious, disappearing App Store Privacy Labels seem to have reappeared. See? Two stories that looked bigger than they actually were - and may have been tied together on the back-end (nothin’ kinky).
Everything should be working now. If it’s not, try hitting it.
Apple Launches Repair Program for Blank Screen Apple Watch Issue
26 APRIL 2022 - Apple has launched a repair program for faulty displays on certain Series 6 Apple Watch units. MacRumors ran a piece on the program last Friday, saying that it was set up “to address an issue that can cause a small percentage of the devices to exhibit a permanently blank screen.” According to the report, some 40mm units made between April and September of 2021 are affected. The report has Apple saying that:
…Apple Watch Series 6 owners can use the serial number checker [on its] website to determine whether their devices are eligible for the repair program.
F. Murray Abraham Out of “Mythic Quest” Season Three
F. Murray Abraham as C.W. Longbottom - Image via IMDB
26 APRIL 2022 - A bummer of a story for fans for the Apple TV+ series “Mythic Quest” - C.W. Longbottom seems to have said goodbye. 9 to 5 Mac ran a piece last week saying that F. Murray Abraham will not be back for the show’s third-season. The reason why is a mystery. It’s possible the character was written off. Without revealing any spoilers, in-universe changes at the end of season-two could explain C.W.’s exit. In the real world, filming for season-two took special care, given Abraham’s 80+ years of age and the ongoing COVID pandemic. Or it could just be money. People who know are not saying. The piece says a spokesperson for Lionsgate, the studio that produces the show, told Vanity Fair:
F. Murray Abraham will not be returning to season three of Mythic Quest. Beyond that, we do not comment on matters concerning personnel.
I may be hoping against hope, but the show’s been picked up through season four. Lionsgate only mentions the third season. He’s probably gone for good, but one can hope.
Welcome to the Trailer Park
26 APRIL 2022 - Apple TV+ hit with a few trailers for upcoming shows during my time off. Here is news of three.
Apple TV+ Outs Trailer for “Now & Then” Ahead of 20 May Premier
“Now & Then” is a bilingual thriller coming from Apple TV+. In case you’ve lost track, the latest press release on the series says:
“Now & Then” is a multi-layered thriller that explores the differences between youthful aspirations and the reality of adulthood, when the lives of a group of college best friends are forever changed after a celebratory weekend ends up with one of them dead. Now, 20 years later, the remaining five are reluctantly reunited by a threat that puts their seemingly perfect worlds at risk.
Set in Miami and presented in Spanish and English, the first three episodes of the show hit Apple TV+ on Friday 20 May. Between… then and now, you can catch the trailer below.
Apple TV+ Drops Trailer and Announces Podcast for “The Big Conn”
Between now and the “Now & Then” premier, Apple TV+ has a big con in the works. The Cupertino-streamer issued a press release last week with a release date, a trailer, and news of a companion podcast for the true crime docuseries “The Big Conn.” According to the release, the four-part series:
…tells the unbelievable true story of larger-than-life attorney, Eric C. Conn, who defrauded the government and taxpayers over half a billion dollars in the largest Social Security fraud case in United States history.
It’s weird what Apple will let folks binge versus titles for which they’ll make people wait. This one will require no waiting, once it starts. The press release says all four episodes and the companion podcast will hit on Friday 6 May. You can catch a trailer for the TV show now below.
Apple Outs Trailer for “Make or Break” Ahead of 29 April Release
Before “The Big Conn” and before the big, bilingual thriller, Apple TV+ is hanging with the people who hang ten. The Cupertino-streamer released a trailer last week for the sports docuseries “Make or Break.” According to the associated press release:
…the new seven-part documentary series (…) delivers behind-the-scenes access to the world’s best surfers as they battle for the World Title at the World Surf League (WSL) Championship Tour (CT).
Again - no waiting once it gets going. All seven episodes of the first season will hit Apple TV+ this Friday 29 April. There will be more where that came from. Apple has already ordered a second season of the series. You can catch the trailer for season one below.
Jon Stewart Picks Up Mark Twain Prize
26 APRIL 2022 - Apple TV+ presenter Jon Stewart was honored over the weekend. As announced back in January, a piece from the New York Times says the longtime host of “The Daily Show” and current host of “The Problem with Jon Stewart” was honored at the John F. Kennedy Center for the Performing Arts on Sunday night with the Mark Twain Prize. When the award was announced a few months ago, Deadline described it, saying:
The Mark Twain Prize for American Humor recognizes individuals who have had an impact on American society in ways similar to the distinguished 19th-century novelist and essayist Samuel Clemens/Mark Twain. This year’s ceremony, the first since 2019 due to the pandemic, marks the 23rd year that the Mark Twain Award will be presented and broadcast nationally.
If you’re wondering how you missed the show, you did not. The Kennedy Center site says the presentation “will be broadcast on PBS stations nationwide” on Tuesday 21 June.
Apple TV+ Shows “9/11…” and “1971…” Earn BAFTA TV Awards
Image via Apple
26 APRIL 2022 - Congratulations to Apple TV+ for picking up a couple of awards that have nothing to do with CODA and nothing to do with “Ted Lasso.” The Cupertino-streamer issued a press release late Sunday announcing 2022 BAFTA TV award wins for the documentary special “9/11: Inside the President’s War Room” and the music docuseries “1971: The Year That Music Changed Everything.”
The release says the awards honor the best British programs, performances and productions each year. The two bagged by Apple titles include an award for Editing: Factual for Danny Collins and Mark Hammill on “9/11: Inside the President’s War Room,” and Sound: Factual for Stephen Griffiths, Andy Shelley, Nas Parkash, Dan Johnson, Tae Hak Kim, and Claire Ellis on “1971…”
It goes without mentioning, though mention it I will - both titles are available to stream now on Apple TV+.
Analysts Weigh In Ahead of Apple Earnings
25 APRIL 2022 - Apple’s second quarter fiscal year 2022 earnings report and associated call are set for later this week. That means close to a week of analysts taking runs at how good numbers are likely to be, and why investors shouldn’t freak out if they’re not as good as expected. Apple 3.0 ran portions of a couple of notes of note last week. We’ll start with one from from our Mr. Mohan.
BofA Makes Case for Street-High $215 Apple Target
Regarding the March-quarter, BofA analyst Wamsi Mohan does not see runaway growth for Apple, though he does see growth. By his firm’s reckoning:
The App Store generated ~$6.6bn revenue last quarter, up 5.6% from the $6.3bn for the same quarter a year earlier.
App Store downloads were up slightly, rising from 8.5bn for March-quarter 2021 to 8.7bn last quarter.
“Average dollars per download increased” a wee bit, from 74-cents-per a year ago to 76-cents last quarter.
Downloads in China were also up the tiniest bit, from 1.89bn in the March-quarter of FY21 to 1.91bn last quarter.
As for the future, Mohan & Friends think the next iPhone will drive huge upgrades, “driven by the need for higher connectivity which will enable new AR/VR applications…” He sees “higher growth in Services revenues,” he thinks Apple will keep doing the dividend and buyback things, and he thinks shares will outperform an otherwise slumping stock market.
Mr. Mohan has a “Buy” rating on Apple shares. His price target on the shares is a Street-high $215.
Morgan Stanley Expects Cautious Comments Around Apple Earnings
Looking a little less big picture is Morgan Stanley analyst Katy Huberty. Regarding the March-quarter, she thinks Apple probably beat expectations. Of Apple and her team, Huberty’s note says:
We expect Apple to post upside to March quarter consensus revenue estimates on the back of iPhone 13 and Mac strength, which we believe more than offset relative weakness in iPad and the App Store in the quarter.
As for the current June-quarter, she and hers expect Apple to strike a “cautious” tone. Is that due to Russia’s invasion of Ukraine? Is it concerns around inflation? While they may play a part, her primary concern seems to be COVID-centered lockdowns in the supply chain. Last Tuesday 19 April, Huberty wrote:
…with COVID-related lockdowns currently spreading through major Chinese manufacturing hubs such as Shanghai, Kunshan, and Zhengzhou – albeit with limited impact to Apple production schedules to date – we expect Apple to take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.
That said, new stuff is coming. She says her team “would buy any weakness ahead of product launch catalysts later this yr.” Huberty has an “Overweight” rating on Apple shares. Her price target on the shares is $210.
Shhh… Let’s Listen…
Expect more notes like the ones from Huberty and Mohan right up to Thursday. That is when Apple will post and host. Numbers for last quarter will hit Apple’s site after the close of trading at 1:30 Pacific/4:30 Eastern on Thursday 28 April. Then, Apple CEO Tim Cook, Apple CFO Luca Maestri, and various financial analysts will do the conference call thing. That goes off at 2PM/5PM. You can hear that as it happens on Apple’s Investor site. Apple will make it available as a podcast soon after. And - of course - we will recap the call here, on Friday 29 April.