Apple Earnings: iPhone Sales Hit Record Highs
Given the challenging environment, which includes economic uncertainty, high inflation, and rising interest rates, it isn't a stretch to say people are finding ways to spend less. A recent survey of more than 9,000 consumers found that 69% of respondents planned to cut back on nonessential spending, with 15% planning to eliminate nonessential spending altogether, according to a study by PwC.
Investors have been concerned about the potential implications for (NASDAQ: AAPL). After all, the company's high-end goods are considered by many to be a luxury, as the average price of an iPhone reached $988 last quarter, according to research firm CIRP.
Yet Apple's results yesterday showed the enduring demand for the iPhone, which helped backstop the company's performance amid challenging conditions.
Source Fool.com
Apple Inc. Stock
Our community is currently high on Apple Inc. with 146 Buy predictions and 17 Sell predictions.
As a result the target price of 228 € shows a slightly positive potential of 10.25% compared to the current price of 206.8 € for Apple Inc..
