Apple Q4 earnings to benefit from iPhone 14 Pro strength, Credit Suisse says
Oksana Dolgikh

Apple (NASDAQ:AAPL) is slated to report fiscal fourth-quarter results on October 27th and the tech giant is likely to benefit from strength in its iPhone 14 Pro and iPhone 14 Pro Max models, Credit Suisse said.
Analyst Shannon Cross, who has an outperform rating on Apple (AAPL), raised her revenue and earnings per share estimates by 1% on continued strong sales of the high-end models. She now expects Apple (AAPL) to generate $89.68B in revenue and $1.30 a share, up from a prior estimate of $88.7B and $1.26 a share. 
Cross noted that although Apple (AAPL) raised the price of its devices in many countries, perhaps to account for volatile currencies, it did not do so in China. Cross said this was possibly not done in order to "better retain demand in a market weighted to flagship iPhone models."
In Japan, Apple (AAPL) raised the iPhone 14 average selling price by roughly 22%, while the average selling price of the iPhone increased roughly 15% in Europe.
Cross also noted that although Mac, iPad, wearable, and home and accessories supplies were constrained in the third quarter, it's possible that supply chains improved, notably helping the Mac.
Cross highlighted recent data from research firm IDC, which said that Apple (AAPL) gained roughly six points of market share in the third quarter, to reach 13.5% of the PC market.
Despite the expected strength in its fiscal fourth quarter, Cross does not expect that to continue for much longer. She lowered her estimates for the 2023 and 2024 fiscal years to account for a "weaker consumer backdrop."
On Thursday, Apple (AAPL) introduced a high-yield savings account with Goldman Sachs (GS) as its banking partner.