Monness, Crespi, Hardt wonders if consumers are ready to 'splurge' ahead of iPhone event
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Apple (NASDAQ:AAPL) is slated to unveil its new iPhone on Wednesday, along with several other products, but investment firm Monness, Crespi, Hardt questioned whether consumers are "in the mood to splurge" on a new smartphone.
Analyst Brian White, who has a buy rating and a $174 price target on Apple (AAPL), noted that the macro environment has become "disconcerting" and the timing of the event, a week earlier than last year, is a "bit curious."
"Given the current environment, we suspect Apple may have chosen to hold this yearâs event a week earlier to add some juice to [fourth-quarter] revenue, supporting managementâs qualitative guidance of accelerating [year-over-year] revenue growth in [the fourth quarter]," White wrote in a note to clients.
In 2021, Apple (AAPL) held its iPhone product event on September 14. 
However, the analyst added that while the early launch will help this quarter, it would "weigh on sales in future quarters."
Apple (AAPL) shares were 0.5% higher in premarket trading on Tuesday.
While White noted that Apple's (AAPL) "innovation engine" has been strong this year, there is only likely to be small improvements over last year's models, including improved camera functions, a faster chip and potentially satellite access.
And given the expected price hikes on the Pro and Pro Max models, White noted this could wind up being "a sensitive topic given the current inflationary crisis and more hesitant consumer."
In addition to the new iPhones, Apple (AAPL) is widely expected to announce new product lines for the Apple Watch and AirPods.