An Apple analyst says that Wall Street is underestimating the impact of 5G iPhones

While the current iPhones have just been released by Apple, the market is already looking at the next iPhones that will be released by Apple. While we know that Apple is not a company that is known for revealing details regarding its upcoming devices, we do know that a 5G iPhone is coming next year. This is because 5G technology and network will be mainstream by next year in the US and one of the biggest smartphone manufacturers of the US, Apple, will also have to add support for it.

Since the new iPhones for next year will come with 5G support, Apple analysts are betting big on the future of Apple and they have made estimates for the company’s future. However, an Apple analyst has made a surprising call and he says that Wall Street is being too conservative when it comes to their prediction of the 5G iPhones. According to him, Apple will sell a lot more iPhones with 5G support than the estimates show.

“We think the Street underestimates the benefits Apple gets from this heading into the 5G cycle,” said Jefferies’ equity analyst Kyle McNealy. He added that Apple analysts are discounting how many ageing iPhones will need to be replenished. Even if upgrade cycles are at least every three, the demand will be there.

Talking about the estimates of Wall Street for Apple’s 5G iPhone sales, Apple will sell 190 million 5G devices in 2021 as per the estimate. However, Kyle says that 208 million iPhones will be shipped in 2021. He adds that “The marketing machines at every wireless operator will be driving a 5G message with consumers,” and also goes on to say that “The industry marketing push behind 5G will also be significant for Apple”