Apple in focus as Loop Capital adjusts iPhone mix shift ahead of iPhone 17 launch

[Aerial view of Apple Park campus]
DutcherAerials

* Apple (NASDAQ:AAPL [https://seekingalpha.com/symbol/AAPL]) was in focus on Thursday as Loop Capital tweaked its mix shift for iPhone sales ahead of the pending launch of the iPhone 17 lineup.
* Shares fell 0.4% in early trading.
* For the September quarter, analyst Ananda Baruah now expects iPhone units to rise by 3M, but the blended average selling price should slip by $36. Overall, revenue is likely to rise by $1B to $51B. Total iPhone units sold in the quarter should be around 52M, up from a previous estimate of 49M, while the ASP should be $983, down from a prior view of $1,019.
* For the December quarter, Baruah expects iPhone sales to rise 1M units, but also forecasts a $39 ASP decline. Overall revenue should slip $2B, with iPhone revenue of $80B, down from a prior view of $82B. Unit sales should rise to 75M, but the ASP should slip to $1,053 from $1,092.
* Baruah has a Hold rating and slightly lowered his price target to $226 from $230.
* Cupertino, Calif.-based Apple is widely expected to show off the iPhone 17 lineup in early September, which many expect to include a slimmer model known as the iPhone Air.

MORE ON APPLE

* Apple's AI Supercycle Is Just Getting Started [https://seekingalpha.com/article/4815516-apples-ai-supercycle-is-just-getting-started]
* Apple Is No Longer A Rocket Ship, But Still A Fortress [https://seekingalpha.com/article/4815411-apple-is-no-longer-a-rocket-ship-but-still-a-fortress]
* Why I Don't Count On Apple's Magic Anymore (Rating Downgrade) [https://seekingalpha.com/article/4814752-apple-stock-i-dont-count-on-its-magic-anymore-rating-downgrade]
* Former Meta staff alleges company inflated crucial ad metrics, bypassed Apple’s privacy rules - FT [https://seekingalpha.com/news/4487895-former-meta-staff-alleges-company-inflated-crucial-ad-metrics-bypassed-apples-privacy-rules---ft]
* Apple boosts India push with third store to open next month [https://seekingalpha.com/news/4487873-apple-boosts-india-push-with-third-store-to-open-next-month]