Mon Sep 23 21:25:29 UTC 2024: ## Apple iPhone 16 Pre-Orders Signal Strong Sales, Boosting Apple’s Market Cap Forecast
Apple’s latest iPhone, the iPhone 16, has gotten off to a strong start, with pre-order demand exceeding expectations. This positive trend has bolstered Wedbush Securities’ prediction that Apple will achieve record-breaking iPhone sales in 2025, leading to a market capitalization of $4 trillion.
Wedbush analysts expect iPhone 16 sales to increase significantly, starting with the December quarter. They attribute this strong performance to the anticipated AI features that will be gradually released throughout the year, marking the beginning of an “AI-driven iPhone supercycle.”
Based on recent supply chain checks, Wedbush estimates initial iPhone 16 sales to be over 90 million units, representing an 8-10 million unit increase from the iPhone 15. This could drive Apple to sell over 240 million iPhones in fiscal 2025.
Analysts believe that over 20% of the world’s consumers will interact with AI through Apple devices in the coming years, and they expect developers to create hundreds of generative AI-driven apps for Apple devices within the next six to nine months.
This optimistic outlook has led Wedbush to maintain its “Outperform” (Buy) rating on Apple stock, with a target price of $300.
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