An analyst maintains a bullish outlook on Apple despite shares of the tech giant falling to their lowest since June 2021 amid continued iPhone supply concerns.
"While the rapid extension of lead times for the iPhone 14 Pro/Pro Max has slowed down and in fact began to moderate in recent weeks, it still remains elevated relative to the lead times seen prior to the COVID outbreak in Zhengzhou," said Samik Chatterjee, in a note to investors.
"Ultimately, Apple is going to do everything they possibly can to defend their business as long as they can across different geographical regions," said Zino. He further added that the actual impact to the top line is going to be less than 1% in the U.S. and Europe. Despite shortages, many analysts predicted that Apple customers will continue to be loyal to the brand's products.
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