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In the penalty box that's what Dan Ives
of Wedbush has to say.

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Here's the quote from him.
The overall iPhone 14 demand story for

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Apple is steady but clearly not the home
run success out of the gates.

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As consumers are not paying out for the
base model and a softer macro

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environment a place to say that Daniel
ISE is right now.

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Dan last time we spoke and it wasn't too
long ago you said so far Intermountain

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orders for iPhone 14 are tracking
slightly behind iPhone 13 and are tracking

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ahead of our expectations out of the
gates.

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Dan what did you see.
What went wrong.

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Well I think you really have to separate
as Ed talked about between iPhone 14 pro

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and the Bass Pro continues to track each
10 percent ahead of iPhone 13 based on

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everything we see.
And I think you'll start to see

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production around that that starts to
ramp in terms of the base model.

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I mean that's been underwhelming and
that's really the six Marine units and

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that's obviously going to be a jolt to
the street.

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But I still believe overall when you put
it all together the overall demand story

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with iPhone Pro that's the key is better
than the Street's expecting it down

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based on how we're readjusting today and
going into earnings in the next month or

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so.
Are you expecting then that potentially

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weakness on revenue but some upside on
earnings given a better average selling

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price.
Yeah I think the ASPs are so strong

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on prem in the mix shift things even 5 9
percent trading.

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That will be enough that we still
believe you know pick out our facts A B

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in terms of the quarter in terms of
going forward.

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90 million units.
I was the one saying I think the worry

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that they were actually going to cut 3 4
or 5 million off the 90 million units.

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And I think as is continues specifically
pro if it goes into how it is used I

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believe they will start to increase
production again specifically on the

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press.
Dan when was the last time this company

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had a real cyclical test for this
iPhone.

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And I think the pandemic counts.
Given the fiscal transfers when's the

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last real cyclical test this companies
have for the iPhone business that we can

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look back on and see how it performs
lead up to good to 2016 2017 in terms of

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our specific product issues that they
were dealing with.

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But if you go back since 2007 Raj
derived from it.

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Just given the ultimate installed base
now it's about a billion iPhones.

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They've been able to withstand economic
pressures because then installed base

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because the upgrade cycle.
And this clearly for Cook in Cupertino

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it's a huge task to see if they can
navigate the storm with basically

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unprecedented things that we haven't
seen in some cases since or not.

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Dan final question.
We talked about this last time we spoke

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I think with my final question then how
would you know if you rank.

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The main way we know are wrong is if we
start to see wait times significantly

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come down for the pro we we don't.
We see specifically in China.

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Any sort of weakness going into to call
December.

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If that happens then the story changes.
But for right now you will we're not

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folding on our bullish thesis.
It continues to be on pro.

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But clearly Apple underestimated on the
base model.

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That's been very disappointing.