Gene Munster highlights the ‘magic’ of Apple headed into Thursday’s earnings report

M3 Max MacBook Pro 16-inch in Space Black
DeepWater Management’s Gene Munster said that the important takeaway from Apple’s “Scary Fast” event centers around the powerful new M3 chip lineup and highlighted the ‘magic’ of Apple headed into Thursday’s earnings report.

$AAPL's Scary Fast event is all about returning the Mac to growth. pic.twitter.com/ZHs2aVN94G
— Gene Munster (@munster_gene) October 31, 2023

Ian Krietzberg for TheStreet:
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DeepWater Management’s Gene Munster, likening the unusual prime-time event to the drama inherent to many of Elon Musk’s Tesla events, said that the important takeaway from the event centers around the new chip lineup, which features that combination of CPU and GPU cores.
Though the company dropped the price of its 14-inch MacBook Pro with the M3 chip to $1,599 from $1,999, Munster noted that Apple also dropped the 13.3-inch MacBook from the lineup. That computer, at $1,299, was considered the entry-level Mac.
Now, Munster said, the entry-level Mac runs several hundred dollars higher.
“That’s the magic of Apple, setting the table to get consumers to stretch to higher priced products,” Munster wrote.
To Munster, the bottom line of the event is that it should give a boost to Mac sales growth for the December quarter.

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MacDailyNews Note: Apple is scheduled to report its fiscal Q4 earnings on Thursday after market close — we’ll have the results for you as usual right around 1:30pm PDT / 4:30pm EDT. Analysts expect Apple to report revenue of $89.3 billion and earnings of $1.39 per share.
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