Fed decision ahead, U.S. inflation data looms large - what's moving markets

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Go back to Fed decision ahead, U.S. inflation data looms large - what's moving markets

BofA's analysis suggests Apple estimates are conservative

June 12, 2024 6:39 AM EDT

Bank of America analysts believe market expectations for Apple (NASDAQ: AAPL) iPhone sales are too low. Their analysis suggests replacement cycles are shortening due to a growing installed base exceeding 2.2 billion units.

"We view the installed base (IB) as a key indicator of the potential of Apple's ecosystem," states the BofA note. They estimate that... More