Recently, Dan Ives—Analyst at Wedbush—said to CNBC that the introduction of 5G-supportive iPhones in 2020 would maintain a “supercycle” for Apple’s stock. Ives—who is already Wall Street’s biggest Apple bull—increased the price target on the stock to around $350, which is almost 25% greater than where it closed recently at $279. With share prices raised by 1.5%, Apple had increased by almost 80% this year. Ives said, “We are just halfway there through what I think is a supercycle.” Ives stated he believed Apple in the coming year will release minimum four phones that can be facilitated with 5G, a latest-generation mobile network that guarantees fast data speeds, lesser latency, and other capabilities to maintain budding technologies like self-driving cars.
The coverage in the U.S. is not yet extensive, but prospects are higher for it to flourish in 2020. Several analysts hope that a 5G iPhone will rekindle declining phone sales that resulted from customers holding onto their older models for longer. One report indicated that the tech titan might ship over 80 million units. Certainly, existing iPhone users seem curious for a 5G model, as per a latest Piper Jaffray survey. From the 1,050 current iPhone owners, 23% stated that they will update for a $1,200 5G iPhone, which is up from 18% of volunteers a few months earlier. Also, Ives believed that 5G iPhones will take Apple’s stock higher in 2020.
Similarly, Apple was in news as the company is working on satellite technology for wireless iPhone data broadcast. It is said Apple will be functioning on satellite technology and have recruited many aerospace engineers to build a team with antenna & satellite designers, as reported by Bloomberg. The report noted that this is an initial-stage secret development that can still be discarded, but that the aim of the squad and its work is to mainly build up communications satellite technology that will transmit and receive data directly to customer devices, counting the iPhone, in a proposal to make it likely to connect Apple devices with no need of a third-party network.