Apple is poised to officially kick off the 5G wireless era next week with its range of iPhone 12 and iPhone 12 Pro models, set for unveiling on October 13th.
Apple titled next week’s event “Hi, Speed,” a cheeky reference to the high-speed capabilities of the 5G iPhones. The company did not specify what it plans to announce, but analysts widely expect the iPhone 12 series handsets to make their debut.
“We believe iPhone 12 represents the most significant product cycle for (Apple) since iPhone 6 in 2014,” Wedbush Securities analyst Daniel Ives said in a note to clients Tuesday. The 14th-generation iPhones “will be another defining chapter in the Apple growth story looking ahead despite a softer consumer spending environment.”
Ives reiterated his outperform rating on Apple stock with a price target of $150.
Ives estimates that 350 million of the 950 million iPhones in use worldwide are in the window of an upgrade opportunity.
MacDailyNews Take: Additional possibilities for the October event include Apple’s “AirPods Studio” over-ear headphones, AirTag item trackers, a new, high-performance Apple TV set-top box, and/or and update on Apple Silicon-based Macs.