Analysts Point to India As a Source of Revenue for Apple. Apple Stock Forecast 2023 Is Pretty Positive.

July 18, 2023

Analysts Point to India As a Source of Revenue for Apple. Apple Stock Forecast 2023 Is Pretty Positive.

Apple’s shares continued to rise on Monday, reaching a new high after Morgan Stanley analysts evaluated the possibility that awaits the firm as it develops in India.

Apple’s (AAPL) shares finished up 1.7% to $193.99 on Monday, the greatest one-day percentage increase this month and the fourth consecutive day of gains. It was the first new all-time high since June 30.

Morgan Stanley analyst Erik Woodring and his colleagues, including Saurabh Mehta from the firm’s India division, restated an Overweight recommendation, the equivalent of a Buy, on Apple in a Sunday note. Apple stock forecast 2023 remains to be pretty positive. The company boosted its price objective from $190 to $220, meaning the stock may climb more than 15.5% from Friday’s closing by July 2024.

Morgan Stanley’s optimistic view originates from the firm’s prediction that India can gain more than 170 million new Apple consumers. According to estimates, income from India would expand at a compounded annual rate of more than 20% over the next ten years, reaching about $40 billion. According to anonymous sources quoted by Reuters and Bloomberg in April, income from India will be about $6 billion in 2022, while Apple reported an overall total of $394 billion.

The projection is based on Morgan Stanley’s latest AlphaWise India Smartphone Survey results, which interviewed over 3,000 urban smartphone owners.

“The survey results positively surprised us,” the team wrote, saying more people intend to buy Apple phones as perceptions about the brand improve. The upshot is that Apple has an opportunity to win customers away from the Android operating system, they said.

Based on current exchange rates and Apple stock forecast 2023, an iPhone SE, one of the most affordable versions, may cost around $600 in India, putting the phones in the luxury category of the market. According to Counterpoint Research statistics, the sector achieved a double-digit market share last year, accounting for 11% of India’s smartphone shipments.

Apple’s India expansion narrative began in April when the firm established its first shop in Mumbai, followed by one in New Delhi. According to local media, government officials have requested that Apple manufacture $50 billion in goods in India over the next five to six years as part of Prime Minister Narendra Modi’s “Make in India” program, which aims to stimulate the manufacturing sector.

On an earnings call in May, Apple CEO Tim Cook said he saw promise in India across the board, including services, rather than just iPhones.

“The average revenue per user in India is much lower for whether you’re talking about TV and movie streaming or music,” he added. “However, when you look at it over a long period, I believe there is a good opportunity across the board.”

Subscribe Our Newsletter

3 Beaten-Down Tech Stocks That Could Be Set For a 2022 Comeback
3 Beaten-Down Tech Stocks That Could Be Set For a 2022 Comeback

Daniel Ives of Wedbush is upbeat about the future. According to the 5-star expert, the IT sector will propel the NASDAQ to a year-end objective of 19k in 2022. If he is correct, the index will rise by nearly 21%.

Stocks
Why Inflation Scares Haven't Hammered the Stock Market
Why Inflation Scares Haven’t Hammered the Stock Market

Despite the constant fear of inflation, the Dow Jones Industrial Average (DJI) and S&P 500 (GSPC) are flirting with new highs.

Banks and Finance
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Liquidity Provider

What is Cryptocurrency Liquidity?
Let's find out how to understand the liquidity of cryptocurrency and what are the reasons to deal with a liquidity provider.

discover
How to Start a Brokerage Firm? — Nuances and Aspects

Constantine

How to Start a Brokerage Firm in 2024?

Learn how to start a brokerage firm in 2024, covering legal steps, business models, technology, and compliance to build a successful and reliable company.

Fintech
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers

    Constantine

    Best DAO Projects in 2025

    Best DAO projects in 2025

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.