iPhone 16 Pro is expected to benefit from an upgrade super cycle
The new Apple Intelligence is so powerful, analysts at Wedbush are claiming that Apple has put itself at the forefront of artificial intelligence with it, and it will launch an iPhone 16 upgrader super cycle.
Specifically, it argues that investors are beginning to regard Apple as the gatekeeper of the consumer AI revolution. Instead of being behind the AI industry as often reported, Apple will lead the way to an extent that it’s Meta and Google that need to catch up.
Regarding upgrade figures, Wedbush estimates that 270 million iPhone users have not upgraded in over four years. While it does not give figures in this new note, Wedbush has previously predicted that 270 million would also be the number of iPhones that will be sold in 2024.
Wedbush bases this in part on its Asia supply chain checks, which it says shows signs of stabilization. It believes that June will prove to be the last negative growth quarter for China, and that there will be a significant turnaround with the iPhone 16 launch.
