Securities analyst Dan Ives from Wedbush says that iPhone 13 sales are 'stellar' and says Apple is in the midst of a 'monster product cycle.'
Securities firm Wedbush released a note to clients today noting that Apple is seeing"stellar" demand for the iPhone 13 series. Analyst Daniel Ives, who covers Apple for Wedbush, said that while Apple had been impacted a little by the global supply chain shortage, Ives says that the improvements that Apple has been able to achieve in procuring parts suggest not only a strong June quarter ahead for the iPhone but also strength for the next iPhone release too.
Ives expects the iPhone SE 5G to sell approximately 30 million units. The tech giant is picking up market share in the world's largest smartphone market the analyst states, crediting the iPhone 12 and iPhone 13 for a 3 percentage point market share increase in China over the last 12 months.
Apple's shares closed regular 4 pm trading today at $170.21. That was up $1.39 or .82% for Wednesday. The 52-week high is $182.94 with the current market capitalization at $2.78 trillion.Get the most important news, reviews and deals in mobile tech delivered straight to your inbox
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