Investment firm Wedbush revealed that Apple is expecting huge sales growth with the new iPhone 16 lineup. The analysts predict a “monumental” demand and a “massive upgrade cycle” driven by AI (Apple Intelligence).
The firm based its predictions on its own supply chain checks in Asia. It stated that China has seen its last negative growth quarter for the iPhone. A turnaround will be seen in September when the new iPhone 16 devices will be launched.
Wedbush also revealed that if Apple implements its AI features to all 2.2 billion active devices, it would become the consumer gatekeeper and push AI developers to follow the same integration model Apple announced with OpenAI’s ChatGPT.
Other companies joining this path would create a “multi-pronged AI revenue stream” that would add $10 billion in annual growth for Apple. Unspecified monetization opportunities that would drive up both Apple Services and hardware sales would also increase the company’s share price.