As Apple Inc. gears up for its “Glowtime” event, Wedbush analyst Dan Ives predicts a “historical period” ahead for the tech giant, spurred by the launch of the new iPhone 16 series.
Analyst’s Predictions for iPhone 16
Dan Ives shared his thoughts on CNBC’s Squawk on the Street about the upcoming Apple event and the potential impact of the iPhone 16 on the market.
Ives says Apple is going to sell a lot of new iPhones. This is because of new AI features. He talked to people who make parts for Apple in Asia. Ives thinks about 300 million iPhones are very old. This means many people might buy new ones soon.
“This starts a historical period,” Ives said during the interview. “Twenty-five percent of the world, based on our estimates, will ultimately access AI through an iPhone.” He also shared on X, formerly known as Twitter, that this upgrade cycle could lead to a “supercycle,” marking a pivotal moment for Apple.
CFO Transition Amid Major Product Launch
Apple recently announced that CFO Luca Maestri will step down on January 1, 2025. Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, will take over the role. Ives expressed confidence in a smooth transition, noting that executive changes like this are common for Apple around the start of the year.
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Despite Maestri’s departure, Apple is set to move forward with its annual iPhone launch event, scheduled for Monday, September 9. Named “Glowtime,” this event is expected to reveal the highly-anticipated iPhone 16 series along with other new products.
The Impact of AI on Apple’s Future
Investors and tech enthusiasts are closely monitoring Apple, especially with the iPhone 16’s AI-driven features generating significant interest. Ives previously noted that Apple is on a “path to $4 trillion” by positioning itself as a key player in the consumer AI revolution. He believes Apple will serve as gatekeepers of AI integration with the introduction of features branded under Apple Intelligence.
However, some analysts caution that AI enhancements will be rolled out gradually over the next few years. Not all features will be available immediately; for example, an enhanced version of Siri is not expected to arrive until 2025.
What’s Next for Apple?
With the iPhone 16 launch and the ongoing developments in AI, Apple is entering what Ives calls a “historical period.” The company’s focus on AI could drive a massive upgrade cycle and shape the future of mobile technology. As Apple heads into the “Glowtime” event, all eyes will be on how these new advancements will impact the market and whether Apple can maintain its momentum as a leader in tech innovation.
