Apple's AI-Enabled iPhone 16 Launch Could Open Floodgates For Double-Digit Volume Growth, Says Bullish Analyst: 'Historical One Setting Stage For A Supercycle'
Portfolio Pulse from Shanthi Rexaline
Apple's upcoming AI-enabled iPhone 16 launch is expected to drive significant growth, with Wedbush analyst Daniel Ives predicting a 'supercycle' of upgrades. Initial shipments are estimated at 90 million+, surpassing previous estimates. The AI-driven upgrade cycle could lead to 240 million iPhone shipments in 2025 and an annual $10 billion incremental growth in Services. Despite some skepticism, Ives has an 'outperform' rating and a $285 price target for Apple stock.
August 12, 2024 | 6:56 am
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Apple's AI-enabled iPhone 16 is expected to drive significant growth, with initial shipments estimated at 90 million+, surpassing previous estimates. The AI-driven upgrade cycle could lead to 240 million iPhone shipments in 2025 and an annual $10 billion incremental growth in Services. Analyst Daniel Ives has an 'outperform' rating and a $285 price target for Apple stock.
The anticipated strong demand for the AI-enabled iPhone 16 and the potential for a 'supercycle' of upgrades are likely to drive significant growth for Apple. The positive outlook from a reputable analyst and the high shipment estimates support a bullish short-term impact on Apple's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100