Apple (AAPL) unveiled its new iPhones 1-1/2 months ago. Now Wall Street is starting to notice.
Loop Capital and Morgan Stanley both issued notes today arguing that orders for the new iPhone 12 are stronger than expected. That helped lift the stock back toward $120, however it remains within November’s tight range. AAPL’s also fighting resistance at a downward-sloping trend line.
As Market Insights reported at the time, some analysts think the newest iPhone could trigger a big “upgrade cycle” similar to 2014. Two big reasons are its 5G networking ability and the old age of many handsets now in circulation.
That same story listed several AAPL suppliers that could benefit from increased iPhone volumes. They include Skyworks Solutions (SWKS), Qorvo (QRVO) and Qualcomm (QCOM).