Wedbush analysts are predicting a strong growth cycle for Apple, fueled by Apple Intelligence. The firm has increased its iPhone 16 shipment estimate to 90 million units based on recent supply chain checks in Asia. With an estimated 300 million iPhone users eligible for upgrades, Apple is poised to benefit from a potential supercycle. The upcoming iPhone 16, set for release in September, capable of running Apple Intelligence features, is expected to drive demand.
Naomi Buchanan for Investopedia:
The analysts wrote that “recent Asia checks this week are giving us more confidence this upgrade cycle will kick off a long-awaited renaissance of growth for Cupertino over the next year.”
Wedbush analysts increased their estimates for iPhone 16 shipments to at least 90 million, higher than Street expectations of between 80 million and 84 million, citing “more indications across the Asia supply chain this iPhone upgrade cycle.”
AI integration into Apple devices and associated monetization opportunities could add $30 to $40 per share for investors, the analysts wrote.
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MacDailyNews Note: Last week, Wedbush reiterated its “Outperform” rating on Apple stock and increased its price target to $285 from $275.
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