Wall Street experts believe that Apple Inc. (NASDAQ: AAPL) will sell a large number of new iPhones worldwide, particularly in the United States and China. Specialists’ optimistic estimates may improve the company’s stock prices. On March 24, a share of AAPL was valued at $174.07 in trade.
Wedbush analysts predicted the new iPhone devices will be in “stellar demand throughout the world” on Wednesday, March 23. Already, sales of the iPhone 13 are high in the United States, and notably so in China, where AAPL has grown its market share by 3%.
Furthermore, Wedbush points out that Apple Inc. (AAPL) is at the start of a long product cycle, so the recently launched smartphone might kick off high sales of the company’s next new product (planned in the fall of 2022).
Analysts predict that AAPL will sell 30 million of the recently released 5G iPhone SE this year, with a strong sales cycle lasting at least 12 to 18 months. It’s worth noting that these smartphones are notable for their low price – around $430 with high functionality, comparable to the more expensive iPhone 13 smartphone.
It is worth noting that Apple, which has been growing service revenues in recent quarters, is focused on maximizing user base development. In the long term, this will result in increased sales of Apple Inc. (AAPL) services since the corporation is willing to forgo sales margins in order to build the most devoted audience possible.
JP Morgan has a similar outlook for Apple’s future growth, citing high sales of the iPhone 13 and iPhone SE as the basis for its optimism. The firm’s analysts maintained their out-of-the-money rating for AAPL shares and confirmed their $210 price target.
Wall Street analysts anticipate a year and a half sales cycle and a further increase in AAPL stock prices through the end of 2023.