Apple Inc. (NASDAQ: AAPL) – Why iPhone 12 Will Be Another ‘Defining Chapter’ in Apple’s Growth Story

The sales side is unanimously optimistic about the opportunities for the latest iteration of Apple Inc.’s (NASDAQ: AAPL) iPhone, which is expected to launch in October.

The Apple Analyst: Wedbush analyst Daniel Ives maintained an Outperform rating on Apple and raised the price target from $ 475 to a Street high of $ 515, with the bull-case price target at $ 600.

The Apple dissertation: There’s a noticeable uptick in the forecasts for the iPhone 12, which is good for demand, Ives said, citing Wedbush’s new Asian controls for supply chain.

Cuperinto is likely to launch only 5G models this fall, with a next-gen 4G model at a lower price point likely to roll out in early 2021. There will be US and non-US versions of 5G phones, with the former incorporating mmWave technology. Ives said this is a clear positive head in the launch, he added.

Apple now has a “once in a decade” opportunity over the next 12 to 18 months, given 350 million of the 950 million iPhones worldwide are in the window of an upgrade opportunity, Ives said. About 20% of iPhone upgrades will, according to the analyst, come from China.

“Taking a step back, we believe that iPhone 12 represents the most important product cycle for Cook & Co. since iPhone 6 in 2014 and will be another defining chapter in the Apple growth story going forward, despite a softer consumer spending environment in our opinion. , “he wrote in the note.

The Street understands the massively revamped demand surrounding the iPhone 12 superbike.

Wedbush sees the service business as an annual revenue stream of $ 60 billion +, and underscores Apple’s ability to further monetize its gold-installed base. Wearables are also seeing strong growth, with Airpods sales likely to increase from 65 million in 2019 to 90 million in 2020, catalyzed by the release of a new version ahead of the holiday season.

AAPL Prize Action: Apple shares were up 1.5% to $ 451.20 at the time of publication.

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