Before 2020 is even here, have you already begun to get excited for Apple’s “iPhone 5G?” If so you’re not alone.
Demand for the Apple Inc. iPhone is poised to skyrocket thanks to new 5G devices, according to Wedbush analysts, who raised their price target to $350 from $325 and maintained their outperform stock rating in a Monday note.
We believe iPhone 11 is just the front end of this current ‘supercycle’ for Cupertino with a slate of 5G smartphones set to be unveiled in September that will open up the floodgates on iPhone upgrades across the board that the Street continues to underestimate. — Wedbush analysts
Analysts say five versions of the iPhone will launch in 2020 and “supplier checks indicate a double digit increase for expectations for overall units (10%+ year-over-year).” Wedbush thinks 200 million units will be the “starting point” with 350 million iPhones within range for an upgrade.
MacDailyNews Take: Just as iPhone this year is all about the camera, next year will be all about 5G. Get ready for the Mother of All iPhone Super Cycles!