Citi’s Jim Suva explains why 2023 will be a good year for Apple stock

Jim Suva, Citi senior tech analyst, joins CNBC’s ‘Squawk on the Street’ to explain why he is bullish on Apple in spite of the fact its share price has declined nearly 30 percent this year.

“Their earnings at the end of January will be the next catalyst,” Suva said. “We expect them to talk about… China improving its supply and the COVID supply chain issues starting to lessen.”
“That should set up for a better-than-normal March quarter,” Sava said. “As we look forward to 2023, we see an AR/VR headset coming out, we see them starting to develop more of a foldable phone… that will likely come out in 2024. These things will set up for a good 2023 for Apple stock.”
“At the Fed starts to level out interest rates,” Suva said, “we believe investors will come back to the tech sector overall.”

MacDailyNews Take: It will be very interesting to see how much of a hit Apple took during the quarter from lack of supply due to the CCP’s “Zero COVID” lockdowns and how the market reacts.
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