Apple Analyst Raises iPhone Revenue Estimates Despite Macroeconomic Uncertainties—2 Factors at Play

The Apple logo on the window at an Apple Store in Beijing on Jan. 7, 2019. Kevin Frayer/Getty Images

Macroeconomic uncertainties have not spared the high-and-mighty in the tech sector but an analyst is confident that Apple Inc.

will outperform hardware revenue expectations in the September quarter.

What Happened

KeyBanc Capital Markets’ “First Look Data” showed strong high-value (over $399) credit card and debit spending by U.S. consumers in September. Indexed spending rose 11 percent month-over-month, analyst Brandon Nispel said.