Renders of a attainable designs for the iPhone 16 vary
Funding agency Piper Sandler says the market is true to be excited by Apple Intelligence, and likewise that it sees a return to iPhone progress in the important thing market of China.
Based mostly on each AI and China, Wedbush has mentioned it expects a “monumental” and “massive upgrade super cycle” for the forthcoming iPhone 16 vary. Piper Sandler’s Matt Farrell, taking on from Harsh Kumar, predicts a lot the identical, and says that pleasure is warranted, but it is also being extra cautious.
That is as a result of it says since Apple’s inventory is up over 30% since April 2024, “we feel like a lot of good news is already priced into the stock.” Due to this fact it is retaining its Apple score Impartial, though it is also elevating the worth goal from $190 to $225.
Piper Sandler can be slightly hesitant over the concept of an improve tremendous cycle. Its analysts at present say that such a brilliant cycle is actually attainable, however would not see that the latest inventory strikes essentially assist that.
Alternatively, Piper Sandler additionally sees what it describes as a small however rising danger that international inflation means shopper spending is slowing down. It argues that an iPhone might be seen as essential, however thinks macro economics may dampen demand for Apple Intelligence.