Labor Day weekend is behind us, which means it’s almost time for Apple’s annual iPhone reveal which is expected to happen this year in October due to delays caused by COVID-19 shutdowns. This year’s event is expected to usher in Apple’s first smartphones with 5G capability.
Some bullish analysts think Apple’s 5G iPhone could be a boon for sales. Though 5G phones may not be life-changing for consumers out of the gate, it could spur upgrades for those holding out until the next big thing. The launch of 4G iPhones had such an effect on sales.
Wedbush analyst Dan Ives wrote in a note on Monday that he expects four new iPhone models from Apple some time in mid-October… “In particular we are seeing Apple and its Asian suppliers anticipate stepped-up demand for the larger 6.7-inch model which is raising the overall iPhone 12 expectations heading into this ‘once in a decade’ potential launch,” he added.
MacDailyNews Take: That’s exactly the model we’re waiting for, the 6.7-inch Pro Max.
Ives has a $150 price target on Apple stock, and points to its massive services business, and his expectation the 5G launch will be a “supercycle” that can drive growth for the iPhone category. He does note that the stock could be volatile over the coming weeks.
MacDailyNews Take: In his note to clients, Ives wrote, “In a nutshell, we believe the iPhone 12 cycle and Rock of Gibraltar services segment will be a paradigm changer for Cupertino.” We concur.