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Apple’s earnings will be flat ahead of AI-enabled iPhone

Investment analyst firm TD Cowen is predicting that Apple’s next earnings call will show little growth, but says forthcoming AI features could prove significant.

iPhone 15 Pro colorful lineup
iPhone 15 Pro range

Analysts such as JP Morgan in March 2024, and Morgan Stanley in November 2023, are consistently predicting that AI will boost Apple’s iPhone sales. JP Morgan, though, has predicted that this boost will come in 2025 with the iPhone 17 range.

Now in a note to investors seen by AppleInsider, TD Cowen repeats the expectation of an AI boost, but is less bullish about it than others, despite keeping its $220 Apple price target. TD Cowen set that price in late 2023, based in part on increasing sales in India, and it is again expecting to see shipment in that country increase.

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