Apple climbs as Wedbush says it will benefit from ‘once in a decade’ iPhone 12 launch that spurs strong demand
- Apple surged 4% on Monday ahead of its “Hi, Speed” event on Tuesday, where it’s expected to launch its next-generation iPhone 12.
- Wedbush said Apple’s iPhone 12 would represent a “once in a decade” launch, kicking off its 5G supercycle.
- Wedbush said that based on its channel checks, Apple and its suppliers are anticipating “stepped-up demand” for its 6.7-inch iPhone 12 Pro Max.
- Morgan Stanley said in a note last week that strong demand for Apple’s higher-priced iPhone 12 models could help boost the iPhone’s average selling price, leading to more upside for the stock.
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Expectations are high for Apple’s “Hi, Speed” event on Tuesday.
Wedbush said in a note on Sunday that the event, where Apple is expected to launch the iPhone 12, represented a “once in a decade” opportunity for Apple to capitalize on its massive iPhone install base of nearly 950 million users.
Wedbush isn’t alone in thinking that the event will be a big deal for Apple. Morgan Stanley said in a note last week that it expected it to be “the most significant iPhone event in years.”
Shares of Apple jumped 4%, to $121.71, on Monday, leading the market higher and helping technology stocks surge.
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Wedbush said it expected four new iPhones, including a 5.4-inch iPhone 12 mini and a 6.7-inch iPhone 12 Pro Max, which would be the largest iPhone display ever.
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Morgan Stanley said the 6.7-inch iPhone 12 could cost as