It was long predicted that the 5G-powered iPhone would be the biggest product launch Apple will be doing in the year of 2020. In fact, Apple is late to the 5G race, as even iPhone 11 devices don’t have 5G support in them. Now, a Wedbush analyst named Dan Ivan has said that the 5G-powered iPhone would be the driving factor behind a ‘Supercycle’ for Apple’s stocks in the upcoming year. He made this statement while talking to CNBC and added that the stock prices would rise dramatically in 2020.
According to what Dan Ivan believes, the supercycle has already started but Apple is just halfway through the said cycle. More importantly, it should be noted that the Apple stock priced had increased quite noticeably in 2019 and a better growth is expected in 2020. According to many analysts, a target of $350 per stock has been set and this is 25% higher than what is currently the price. As on Friday, a single stock of Apple costs $279 and this is expected to go ahead in the coming months, especially as the company launches more products.
Dan Ivan is one of the biggest bullish analysts in the Wall Street at this point and he is quite optimistic about the journey Apple wants to have with the new iPhone devices. He believes that the next year would see the launch of at least four iPhone devices that have 5G connectivity. The analyst believes that the inclusion of a new connectivity standard that could be incorporated with Internet of Things and better speed will be a big turn for a company like Apple, which has also been expanding to home appliances and smart home tech in general. Whether Dan Ivan is right about the number four is something that can be verified only next year.