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Investing.com — In case you hadn’t heard, Apple (NASDAQ:AAPL)’s got big news coming up tomorrow.
In fact, Wedbush even says the day will mark the beginning of the company’s most important product cycle since the iPhone 6 in 2014, according to StreetInsider. Apple will reveal its iPhone 12 family of products, kicking off the 5G “supercycle.”
Shares are up more than 5% on Monday as the market salivates over the next overpriced handset models. The iPhone represents more than 50% of Apple sales.
The big problem with the new models is that 5G isn’t actually much faster than 4G networks, according to Briefing.com. In fact, it could take years for 5G to reach worthwhile speeds, some speculate.
Four models are expected, ranging from $699 to $1,099.
“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,” Wedbush analyst Daniel Ives wrote in a note, according to StreetInsider.
Ives sees 75 million to 80 million phones, up from 65 million to 70 million a few months ago, with some 350 million of 950 million existing units ready for upgrade. Chinese consumers are also important this year.
“We are seeing considerable strength from the China region over the last few months (should be a source of relative strength in the September quarter) with positive trends heading into the all-important holiday timeframe,” said Ives, who has a buy-equivalent on the stock.
Last seek, Morgan Stanley (NYSE:MS) raised its estimates for the iPhone, saying Wall Street estimates are too low. Analyst Katy Huberty raised 2021 fiscal year sales and earnings per share by 2%, which is 5% to 6% above consensus. She raised FY21 iPhone shipment forecast to 220 million units from 218 million, according to StreetInsider.
“We expect this fall’s launch to be the most significant iPhone event in years,” Huberty said.
