“Clear Tick up” in iPhone 12 Pro Demand
In the note, seen by AppleInsider, Mr. Ives said that analysis from Asia has been “incrementally bullish” regarding demand in both the U.S. and China. He said that there is a “clear tick up” for iPhone 12 Pro demand, describing the device as the “star of the show” in the new lineup.
Before their formal launch, Mr. Ives anticipated that Apple would sell 65 million to 70 million units of its latest iPhones. He upgraded that to 75 million units in late October. The latest note anticipates suppliers will ship 80 million iPhone 12 units, and that sales of close to 90 million are possible.
“We have not seen a launch uptrend such as this in a number of years for Apple,” wrote the analyst. Indeed, “the only iPhone trajectory similar would be the iPhone 6 in 2014 based on our analysis,” he said. Mr. Ives added:
With our estimation that 350 million of 950 million iPhones worldwide are currently in the window of an upgrade opportunity, we believe this will translate into an unprecedented upgrade cycle for Apple with a major holiday season on the horizon despite the softer consumer backdrop.