While we know that the Apple iPhone 13 series has seen robust sales across the globe, a new report has found that its performance was actually “stellar” and may have put the company in a “monster product cycle.”
The news arrives from securities firm Wedbush (Via PhoneArena) and known analyst Daniel Ives. The report added that the Cupertino based giant was only lightly impacted by the global supply chain shortage, since it managed to procure parts for its iPhone. Furthermore, this will help it in seeing a strong performance in the June quarter as well as help in strengthen sales of its next iPhone release as well.
Ives expects that the 2022 iPhone SE 5G will see around 30 million units in sales. On the other hand, the company is also acquiring a higher market share in the smartphone market, largely due to the popularity of its iPhone 12 and iPhone 13 series, which saw a 3 percent market share increase in China alone over the last 12 months. Ives also noted that there were a number of more Chinese consumers willing to buy the iPhone 13 Pro and iPhone 13 Pro Max, “which is a nice positive for the March quarter.”
He further added that Apple is currently in the middle of a “monster product cycle.” Ives stated that the current product cycle is the strongest for the brand since 2015, back when it launched the iPhone 6S and iPhone 6S Plus. The Wedbush analyst wrote in a note to clients that “Taking a step back, while the risk of dynamic in the market has been front and center for tech investors with Apple’s stock also under pressure thus far in 2022 along with other tech stalwarts, we believe the company is setting up for a monster growth cycle over the next 12 to 18 (months) that is not baked into shares at current levels.”
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