Walking up to next Tuesday’s Q3 earnings, Ives is — if possible — more bullish than ever.
From Daniel Martins’ “A chat with Wedbush’s Dan Ives” posted early Friday:
If I look to all the checks from supply chain, it’s been anywhere between solid to something that was almost a step up in terms of units coming from the iPhone 13… This quarter, we’re going to be looking at a few billion dollar beat in iPhone and I think services also beats…
Don’t lump Apple in with a pull-forward, work-from-home story. Without the retail piece, I think [the pandemic] actually net-hurt them. This is actually why, when you look at iPhone 13 coming out of the gates in Asia, it’s actually up vs. the iPhone 12 pre-COVID…
Now, looking at the Apple Car, it has been one step forward, two steps back. It’s coming, I believe 2024 or 2025. But I believe they lay the groundwork over the next 3, 6 or 9 months to get there.
Cue the video:
My take: The hardest working analyst on Wall Street.