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iPhone 12 demand could help Apple reach $3T valuation by end of 2021

Added 02-21-21 06:11:02pm EST - “The high popularity and sales of the iPhone 12 will continue throughout 2021, according to analysis by Wedbush, a factor that could give Apple a market capitalization in excess of $3 trillion by the end of the year.” - Appleinsider.com

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Posted By TheNewsCommenter: From Appleinsider.com: “iPhone 12 demand could help Apple reach $3T valuation by end of 2021 | AppleInsider”. Below is an excerpt from the article.

The high popularity and sales of the iPhone 12 will continue throughout 2021, according to analysis by Wedbush, a factor that could give Apple a market capitalization in excess of $3 trillion by the end of the year.

The iPhone 12 is in the midst of what analysts would refer to as a "supercycle," with Apple enjoying high sales of its latest smartphones. In a note to investors seen by AppleInsider, Wedbush thinks Apple will do better this year than what it believes Wall Street is anticipating.

Wedbush analysts Daviel Ives and Strecker Backe reckon "based on the current trajectory and in a bull case," Apple might sell "north of 240 million units," with a possibility of hitting an "eye-popping" 250 million. Not only is this higher than the 220 million Wall Street reckons will be reached, but it will also beat Apple's previous sales record of 231 million units sold in 2015.

The favorable outlook is in part due to the analysts' Asia supply chain checks, which report "robust strength" in demand. Furthermore, with 350 million iPhones estimated to be prime for an upgrade, this could result in an "unprecedented upgrade cycle" for Apple.

Benefiting Apple further is a belief of an upward shift in the average selling price for iPhones, with the iPhone 12 Pro believed to be the predominant model sold around the world.

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