With Apple expected to release four 5G iPhones in 2020, at least one analyst is expecting it to be a “supercycle” for the company’s stock.
Wedbush analyst Dan Ives told CNBC he believes the demand for 5G iPhones will have a significant impact on the stock price. As a result, Ives raised his target for Apple’s stock to $350, a significant increase over the $284 closing price Monday.
As CNBC points out, recent Piper Jaffray research shows an increasing level of interest in upgrading to a 5G iPhone, with nearly a quarter of iPhone owners willing to upgrade to a $1,200 model.
With interest that high, it’s little wonder some reports predict Apple will sell 80 million units in 2020, with at least one source placing that number as high as 100 million. Similarly, Strategy Analytics predicts Apple will easily take the 5G crown in 2020, leap-frogging the competition to take the top spot.
Even so, not all analysts share Ives’ bullish outlook. Gene Munster, Loup Ventures managing partner, told CNBC that the first year of 5G iPhones would be a “disappointment for investors,” blaming poor coverage on the part of the carriers.
With such different viewpoints in play, 2020 is shaping up to be a fascinating year for Apple and their 5G plans.