The iPhone super cycle that started with the launch of Apple Inc (NASDAQ: AAPL) The iPhone 12 is likely to continue in 2022, according to analysts at Wedbush Securities.
The Apple analyst: Daniel Ives has an Outperform rating at Apple and a 12 month price target of $ 175, with a high cash price target of $ 225.
Apple’s Thesis: The next iteration of the iPhone, namely the iPhone 13, is likely to launch in September, Ives said. The first builds in the Asian supply chain for the iPhone 13 are in the range of 100 million units, compared to the company’s initial iPhone 12 readings of 80 million, he added.
Related link: 6 key questions that Apple answered at the annual shareholder event
“While that number will clearly change in the coming months, we believe it shows greater confidence from Cook & Co. that this 5G-driven product cycle will extend until 2022 and should also benefit from a post-vaccine consumer reopening environment. “”, Ives wrote in the note.
The iPhone 13 will likely have a 1 terabyte storage option, double the current highest Pro storage capacity, the analyst said. It will also include a number of improvements, with Lidar on all iPhone 13 models.
Therefore, the iPhone 13 may be a “game changer”, indicating that the super cycle party in Cupertino is going well in 2022.
AAPL price action: At the last check, Apple’s shares were up 4% to $ 126.20.
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