According to Wedbush analysts Daniel Ives and Strecker Backe, there’s nearly a 15% chance that Apple will be introducing its first 5G iPhones in October, Seeking Alpha is reporting.
The two analysts at the Los Angeles-based investment firm, however, aren’t expecting a fall launch since the Asian supply chain “is still on a path to normalization” amid the ongoing coronavirus-related lockdowns around the world.
Both Ives and Backe believe the investors will be looking forward to the Q2 results on April 30 for any timeframe update from Apple CEO Tim Cook.
The firm believes “the Street is already starting to factor in a 5G launch that moves into the December timeframe reflected in the stock.”
Wedbush maintains an Outperform rating and $335 price target on Apple. The company has a Bullish average Sell Side rating.
Analysts say 5G iPhones could add a boost to Apple’s iPhone sales, which have sagged in recent years as customers continue to hold onto their own versions longer.