Is Apple’s 5G iPhone Selling? We’re about to find out
Wall Street counted on a surge in iPhone 12 sales to boost Apple’s earnings. This week, investors will find out if those predictions are coming true.
The release of each iPhone comes with a significant degree of hype. But this time around, there’s one more unknown, since the iPhone 12 is the first Apple device with 5G connectivity. Some analysts think this will have led to a huge wave of updates. Others aren’t sure if 5G’s rollout is long enough to inspire such enthusiasm, especially in the midst of an economic downturn.
Apple reports gains after US markets close on Wednesday. Given the increase in the company’s shares by 75% over the past year, partly due to the anticipation of the wild iPhone 12 sales, it will be a major market event.
Much depends on demand from China, according to Wedbush Securities analyst Daniel Ives, focusing on any comments on the country’s economic return.
“China remains a key ingredient in Apple’s recipe for success as we estimate that around 20% of iPhone updates will come from this region in the next year,” Ives said in a recent note to customers.
Microsoft, Facebook and Tesla, all contributors to the recent market rally, are also expected to report earnings this week.
- According to this source Is Apple’s iPhone 5G a Big Seller? We’ll find out on Wednesday
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