Apple shares gain ahead of ‘once in a decade’ 5G iPhone event

Apple

(Seeking Alpha) – In a new analyst note, Wedbush outlines what it expects at tomorrow’s Apple (NASDAQ:AAPL) iPhone launch event, which was delayed due to the pandemic’s supply chain disruption.

Analyst Daniel Ives predicts four iPhone models, all with 5G: 5.4-inch OLED display (starting price: $699); 6.1-inch OLED display ($799), 6.1-inch iPhone Pro OLED ($999), and 6.7-inch OLED display iPhone Pro Max ($1,099).

The Pro models will likely differentiate with LIDAR sensors for AR, enhanced rear camera tech, and 4x/5x optical zoom.

Key quote: “In particular we are seeing Apple and its Asian suppliers anticipate stepped-up demand for the larger 6.7-inch model which is raising the overall iPhone 12 expectations heading into this “once in a decade” potential launch.”

On the 5G front, Ives expects a U.S. edition with mmWave technology, which “could be a game changer looking ahead as more infrastructure, technology, and apps are built around this transformational 5G highway over the coming years.”

Wedbush maintains an Outperform rating and $150 price target with the $175 bull case.

In other Apple news, RBC raises the tech giant’s price target from $111 to $132, citing the upcoming iPhone cycle and the newly announced Fitness+ subscription product. RBC maintains an Outperform rating.

Apple shares are up 5% to $124

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