Apple climbs as Wedbush says it will benefit from ‘once in a decade’ iPhone 12 launch that spurs strong demand

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a hand holding a video game remote control: Reuters


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Reuters

  • 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.
  • Visit Business Insider’s homepage for more stories.

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.

Read more: GOLDMAN SACHS: Buy these 15 stocks set to deliver the strongest possible profit growth and subsequent returns through year-end

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.

Video: Investors on what a new iPhone could do for Apple’s stock price (CNBC)

Investors on what a new iPhone could do for Apple’s stock price

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Morgan Stanley said the 6.7-inch iPhone 12 could cost as

How should a premier magnet school boost Black and Latino enrollment? A suggested lottery spurs fierce debate.

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Aware of the problem, several previous administrators tried to alter the admissions system, but none of their efforts yielded concrete results. For many — although not for the handful of Black and Latino students and graduates — the issue faded into the background until this summer, when protests over the murder of George Floyd began to spread nationally. Around the same time, the Fairfax school system released numbers showing that Thomas Jefferson’s Class of 2024 included less than 10 Black students.

Those twin events led to a huge spike in activism, as students and alumni formed action groups, began sharing their own experiences with racism at TJ and lobbied school leaders to take action. Again and again, they rehashed the statistics: In 2019-2020, mirroring years-long trends, the student body of roughly 1,800 was 70 percent Asian, 20 percent White, 2.6 percent Hispanic and less than 2 percent Black.

A few months later, Brabrand suggested the most sweeping changes to the admissions system — traditionally composed of a two-part math, reading, science and writing test — since the school’s founding in 1985. Under his proposal, the test is gone, as are the application fee of $100 and teacher recommendation letters. Instead, eighth-grade students from five geographical areas will be allowed to enter a random lottery if they meet certain qualifications: a 3.5 GPA and enrollment in Algebra I.

Those in favor of the plan argue it is the only practical, immediate way to begin solving a decades-old, intractable problem.

“It might be imperfect,” said Anant Das, 23, who is South Asian and graduated from TJ in 2015, “but the county has had 20 years to fix this issue, and they haven’t.

“There’s momentum now, now is the time,” Das added. “You can’t have another class of TJ students go through this.”