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Inspired by market rumors that it will increase iPhone production capacity by 30% in the first half of 2021, Apple Inc. jumped more than 5% on December 15. Analysts believe that, driven by the supercycle of the iPhone 12 and 5G mobile communication technology, Apple’s stock price is expected to continue to rise by 32% next year.
On the 15th, the Nikkei Asian Review quoted an unidentified source as reporting that Apple plans to produce up to 96 million iPhones in the first half of 2021, an annual growth rate of nearly 30%. This is mainly due to the increase in demand for its first 5G smartphones during the epidemic. Buying sentiment for the iPhone 12 Pro Max beat expectations in particular. The full-year forecast shared by Apple with its suppliers suggests that the planned total production target of new and old iPhones in 2021 is at most 230 million units, 20% more than in 2019.
According to reports from Business Insider and CNBC, Wedbush analysts Dan Ives and Strecker Backer are more optimistic about iPhone sales next year and are expected to sell more than 240 million units, topping the record (231 million units). written in 2015. Demand for the iPhone 12 has increased significantly as consumers upgrade mobile phones, entry-level models with better displays, and all cameras with night modes.
Wedbush’s report indicated that the iPhone 12 has received more orders in recent weeks, and the preliminary interpretation results are very optimistic. Stocks are increasingly relying on the theory that the iPhone 12 powers the supercycle. “Apple hasn’t seen such a great sales boom for several years and the only comparable product is the iPhone 6 from 2014.”
Wedbush noted that pre-orders for the iPhone 12 are more than double those for the iPhone 11, and Apple’s “supercycle flagship products” are off to a strong start. The stock maintains Apple’s investment rating at “outperformed,” with a price target of $ 160 over the next 12 months.
China remains an important element of Apple’s 5G supercycle and is expected to account for up to 20% of iPhone 12 upgrade sales. The iPhone 12 supports 5G communication technology, which is the main reason for its popularity in China.
Apple jumped 5.01% to close at $ 127.88 on the 15th, setting a record since Sept. 2, the biggest gain among the 30 constituent stocks of the Dow Jones industrial average; It has increased 74.21% so far this year.
(This article is reprinted with permission from MoneyDJ News; source for first image: Science and Technology Newspaper)
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