Apple Inc (NASDAQ:AAPL) iPhone 16 Launch Invitation

On Monday, Apple Inc officially sent out invites for its iPhone 16 launch event on September 9 at Apple Park.

Anticipated Upgrade Cycle

Analysts at Wedbush are optimistic about this event, predicting it will ignite the “biggest upgrade cycle” in Apple’s history, particularly with AI advancements.

“Our recent Asia checks give us confidence that this upgrade cycle will unleash a renaissance of growth for Cupertino over the next year,” analysts stated.

Shipment Projections

Wedbush forecasts initial shipments of the iPhone 16 to exceed 90 million units, surpassing previous market expectations of 80 to 84 million units. This projection indicates a double-digit year-over-year increase.

About 300 million iPhones worldwide have not been upgraded in over four years, indicating significant potential demand.

Future Sales Estimates

“We believe Apple could sell over 240 million iPhone units in FY25 as this AI-driven upgrade cycle begins,” analysts added. China remains crucial for growth, with improvement anticipated starting with the iPhone 16 heading into fiscal 2025.

Apple Intelligence Launch

With the anticipated release of Apple Intelligence, Wedbush analysts contend that Apple could become the “gatekeepers of the consumer AI Revolution.” They emphasize that developers must integrate their AI models into Apple’s ecosystem, supported by 2.2 billion iOS devices and 1.5 billion iPhones worldwide.

Over the next 6 to 12 months, the expectation is for developers to launch hundreds of generative AI-driven apps, which could significantly boost Apple’s success. This integration may potentially add about $10 billion in high-margin annual growth to Apple’s Services segment.

Leadership Changes

After the market closed on Monday, Apple announced that its longtime CFO Luca Maestri will step down from his role on January 1, after over a decade in the position. Maestri will continue overseeing Corporate Services. Kevan Parekh, an 11-year Apple finance veteran, will succeed him as the head of finance.