Saturday, November 26, 2022
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Demand for the new iPhone 14 is very high. 240 million users have not updated their iPhone for more than three and a half years

Demand for the new iPhone 14, iPhone 14 Pro, iPhone 14 Plus and iPhone 14 Pro Max smartphones from tech giant Apple is very high, according to Wedbush Securities.

Consumers are lining up to buy new iPhones, analysts Dan Ives and John Katsingris said. In this regard, they added that the forecast of 90 million smartphones this year remains in place. Delivery dates for the Pro models have been pushed back to mid-October to early November, they said, and could be delayed even further.

“This speaks to the underlying story of demand that Apple expects for the next iPhone release: we estimate that 240 million of the 1 billion iPhone users worldwide have not updated their phones for more than three and a half years,” said Dan Ives.

This is a good signal for investors and Apple. While services have accounted for the majority of sales over the past few years, the iPhone still plays a major role. Analysts polled by FactSet believe the company will generate $415.8 billion in sales in calendar year 2023, with more than half of that money coming from mobile phones.

iPhone 14 sales start this coming Friday.

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