Apple Analyst Suggests New Products Are Coming
Apple (NASDAQ:AAPL) is preparing for a product launch or two if the indications from its suppliers are correct. The technology firm’s suppliers had a more robust April than is typical for what is usually Apple’s slow season, suggesting new products are on the way in the form of the iPhone 6, new iPads, and even potentially the much-rumored iWatch.
AppleInsider reports that analyst Brian White of Cantor Fitzgerald found that sales at Apple’s suppliers were up 7 percent from last month. This reverses a trend from the previous nine years, during which April sales were generally down about 1 percent. White attributed the growth to Apple producing new products just in time for a summer announcement and fall launch.
Apple, of course, is staying mum about potential new products, in its usual style. Observers and analysts attempt to figure out what is going on behind the scenes by following Apple’s suppliers and its supply chain. The April results are based on 97 percent of Apple’s suppliers.
Seeing from whom and how much a company is buying is an economic indicator of how a company is doing. White used this data to predict that Apple’s March-quarter results would be better than Wall Street expectations for the company. When the results came out, White was proven right, as Apple’s quarterly report showed it had beat expectations.
White expects that Apple will attract investors during this period.