Apple shares are up more than 6.35% ahead of the launch of their latest iPhone 12 series. Morgan Stanley analyst Katy Huberty predicts Apple will launch around 220 million iPhones in early 2021.
That number is expected to up 22% year on year. Sales will also continue to soar considering iPhone users are likely to update their iPhones.
Apple is expected to unveil the exterior redesign of the iPhone 12 that has been planned since 2017. The company is also rumored to be releasing four separate iPhones with different screen sizes and prices.
The latest iPhones are also expected to be equipped with a 5G cellular network, which promises a faster network.
Apple’s shares up nearly 70% from year to year
“We expect the launch of the iPhone 12 in 2021 to be the most significant series for several years,” said Morgan Stanley analyst Katy Huberty, quoted from CNBC, Tuesday (10/13/2020).
According to data from Morgan Stanley, Apple stock once outperformed the S&P 500 by an average of 13 percentage points in the six months following the launch of the new iPhone. It Had also come down but in a short time.
On an average note, Apple’s stock rose 10.7% after three months of launching the new iPhone. Overall, Apple’s stock is up nearly 70% from year to year.
Read now: iPhone 12 Upgrade Suddenly Confirmed