![]() “Moreover, by 2025 we expect that the EV total addressable market will be greater than the entire combined smartphone, PC, tablet and wearables market,” Malik said. While Apple continues to shell out cash for dividends and stock buybacks, it still has room to play around, which is likely why the company is considering moving into markets with lower margins. “We believe the best solution is for Apple to be integrated with auto makers’ user behavior and information much more deeply than its current Apple CarPlay system,” he wrote. In other futuristic moves, he explored Apple’s options for the car market, noting that the company now faces the question of “when and to what extent” it wants to get involved in these sorts of efforts. “We don’t expect the headset to be a key driver to Apple’s total sales in the near term as it will only be available early 2024 and we expect only units for the first couple of years,” Malik wrote.Īpple Vision Pro: How early adoption could stack up against the iPhone, Apple Watch and iPod More from MarketWatch: Is Apple’s Vision Pro VR headset worth $3,499? Read this before shelling out. Malik’s bullish view of Apple comes even as he isn’t expecting much from the Vision Pro headset that the company recently teased. Other emerging markets, including Mexico, Saudi Arabia, Turkey and the United Arab Emirates, offer opportunity as well. Now that portion stands at about 17%, Malik said. “Overall, there will be nearly $2 trillion of incremental spend on affordable, mid-priced offerings, in parallel with $2 trillion incremental spend led by consumer upgrading to premium offerings or adding new categories of consumption,” Malik said in a broad discussion of these groups’ spending power.Īpple can turn to its success in China as a playbook, given that the iPhone represented perhaps just 2% of smartphone shipments in that country during 2009. Those cohorts could grow their spending by six times come 2030, he wrote. The company stands to benefit as India’s middle and upper classes grow, Malik said. The stores can also enhance Apple’s understanding of the market as it looks to boost its positioning. ![]() Now Apple has two physical stores in the country, which let consumers in the country “experience the Apple brand” and buy phones directly. He notes a compelling opportunity for Apple in India, where the company had perhaps only a 5% share of the market for smartphone shipments last calendar year. Read: Apple’s march toward a $3 trillion valuation, shown in one chart “Moreover, growing higher-margin services sales mix should help expand the overall corporate gross margins,” Malik continued, as he set a $240 price target on Apple shares, which closed Thursday at $189.59. Plus, Apple boasts “resilient market share,” with gains against Android devices, and it’s poised to lower its own costs thanks to a move to design its own custom chips. ![]() Ability to expand margins by continuing to drive consumers toward more expensive devices and configurations. Priority Violations: 3.2(C) / Packaged and unpackaged food - preventing contamination by separation, packaging, and segregation Critical Corrected During Inspection Food not properly protected from contamination by separation, packaging, and segregation. ![]()
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