Investment firm predicts record iPhone 16 sales driven by Apple Intelligence

Investment firm Wedbush relates its findings from its Asian supply chains, reporting that Apple is in for a boom

Tech Desk - Jul 10, 2024

An undated image of an Apple store. — iStock

Investment firm Wedbush revealed that Apple expects to hit record sales with the iPhone 16 lineup. The analyst predicts ‘monumental demand’ and a ‘massive upgrade cycle’ thanks to Apple Intelligence.

The firm based its predictions on an analysis of its supply chain checks in Asia, finding that China has witnessed its last negative growth quarter for the iPhone. A turnaround is expected in September when the new iPhone 16 devices will be launched.

Furthermore, the analyst declared that if Apple made Apple Intelligence available to all of its 2.2 billion active devices, it could essentially become the gatekeeper for AI (Artificial Intelligence) and push more developers to consider AI integration, as seen with ChatGPT and Apple's case.

More companies following the same path could lead to a 'multi-pronged AI revenue stream', adding $10 billion in annual growth for Apple. Unspecified monetisation opportunities would drive up both Apple Services and hardware sales, increasing the company's share price.

What is Apple Intelligence?

"Apple Intelligence is deeply integrated into iOS 18, iPadOS 18, and macOS Sequoia. It harnesses the power of Apple silicon to understand and create language and images, take action across apps, and draw from personal context to simplify and accelerate everyday tasks."

This is how Apple describes its exciting yet elusive AI-branded feature. Apple Intelligence is set to be the company's take on AI, providing exclusive features while partnering with OpenAI's ChatGPT.