 |
| iPhone 12 helps Apple surpass $ 3 trillion in market value |
According to Wedbush stock trading analysis, the popularity and sales of the iPhone 12 series will continue to grow through 2021. This factor could cause Apple's market value to increase to $ 3 trillion by the end of the year.
The iPhone 12 product line is at the heart of the so-called super cycle, where Apple is achieving high sales with its latest smartphones.
In a note to investors, Wedbush estimates that Apple may be bouncing off Wall Street analysts' opinions this year.
According to the note, Apple has sold 240 million devices and 250 million usable devices to date, beating Wall Street expectations of 220 million devices and surpassing Apple's previous record of 231 million sales in 2015.
Part of the bullish outlook can be attributed to data from the Asian supply chain, which indicates strong demand.
Additionally, there are an estimated 350 million iPhones ready for an upgrade, which could lead Apple into an unprecedented upgrade cycle.
The upward trend in the average retail price of the iPhone is beneficial to Apple as the iPhone 12 Pro is the predominant model in the world.
Chinese sales are believed to be the mainstay of Apple's super cycle as this region is estimated to account for around 20% of iPhone upgrades by 2021.
Apple's CEO warned in January that China's record $ 21 billion profit wasn't just tied to the iPhone.
He noted that other factors played a role as well, and he acknowledged that the company received the most promotions from major markets during the quarter.
Other factors are related to services, but Wedbush still believes that a steady upgrade to the iPhone is the core of Apple's growth.
As analysts said, this could ultimately help Apple grow in value within a year: We think Apple's market value could reach $ 3 trillion by the end of this year.