Fearless Forecast: IPhone 7 to Set New Sales Records for Apple

Early in 2016, tech giant Apple has acknowledged a great decline in their pilot iPhone sales. Many analysts and tech followers are expecting a continuous decline in iPhone sales for the rest of the year, noting that the new iPhone 7 is not that much of an upgrade from the powerful iPhone 6s.

However, a team from BMO Capital Markets led by analyst Tim Long is expecting a massive influx of the upcoming iPhone’s sales. Why do they think otherwise, when Apple, the brand itself, has admitted such decline?

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Image source: theguardian.com

According to the team’s research, Apple has a huge base of users whose phones are at least two models earlier than its flagship. Long’s team is projecting that about 25 percent of the current user base is going for an upgrade. This audience will approximately buy about 120 million phone units.

In recent years, iPhone sales saw an average of 17 percent of iPhone users upgrading to the latest model; 58 percent of them upgrade after a year; and 22 percent after two years. Only 2 percent of all iPhone users hang on to their beloved older handsets.

BERLIN, GERMANY - SEPTEMBER 19:  A shopper ltries out the new Apple iPhone 6 at the Apple Store on the first day of sales of the new phone in Germany on September 19, 2014 in Berlin, Germany. Hundreds of people had waited in a line that went around the block through the night in order to be among the first people to buy the new smartphone, which comes in two versions: the Apple iPhone 6 and the somewhat larger Apple iPhone 6 Plus.  (Photo by Sean Gallup/Getty Images)
Image source: fortune.com

Apple’s next phone may not be what fans have been waiting for, but data suggests that it’s time for iPhone users to embrace the big change. But what those in the tech world are really waiting for is the release of the 2017 iPhone that will mark the 10th year of Apple’s well-loved flagship.

Hi, I’m Steve Sorensen, and I’m fascinated about how the biggest companies have grown in net worth. I also write a lot about anything related to business and investment. Know more about my interests by following me on Twitter.

Author: Steve Sorensen Networth

Hello there. I'm Steve Sorensen, a Des Moines-based investment strategist and business blogger. Welcome to my business blog. I received my degree in business from Iowa State University. I do a lot of research on many of the world's most successful companies, in particular on how they built up their net worth over the years. Not only do the success stories of Fortune 500 companies fascinate me so, they also provide a framework to analyze the potential growth outlook of many companies. This assists me in helping my clients find the right mix of companies to add to their portfolios. I spend my weekend downtime keeping fit by playing tennis doubles with friends. I enjoy country music and like to keep updated on the country music festivals. Check back from time to time to see what I've written about.

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