Get ready for a monumental iPhone 16 supercycle

Renders of the upcoming iPhone 16 Pro

Wedbush analysts, however, go further in their growth forecasts for Apple. Citing their own supply chain monitoring in Asia, Wedbush says demand for the iPhone 16 looks likely to be “monumental” and experience “a massive upgrade cycle.”

Also based on better-than-expected numbers in March 2024, Wedbush estimates that China has seen its last quarter of negative iPhone growth. It expects growth to turn around in the September quarter, when the new iPhones are launched.

Wedbush also continues to argue that Apple has established itself as the gatekeeper for consumer AI capabilities. With the implementation of Apple Intelligence, and particularly its 2.2 billion active devices worldwide, Wedbush says other AI companies will need to integrate with Apple.

This would involve AI developers following the same integration model that Apple announced with OpenAI’s ChatGPT. Wedbush believes that other companies joining this initiative would create a “multi-pronged AI revenue stream,” which would add $10 billion in annual growth to Apple.