As Apple Inc. prepares for its “Glowtime” event, Wedbush analyst Dan Ives predicts the tech giant will enter a “historic period” with the launch of the new iPhone 16 series.
Analyst's iPhone 16 Predictions
Dan Ives shared his thoughts on CNBC: Screaming in the Street About the upcoming Apple event and the potential impact of the iPhone 16 on the market.
Ives says Apple will sell a lot of new iPhones. That's because of new AI features. He spoke to people in Asia who make parts for Apple. Ives thinks there are about 300 million iPhones that are very old. That means a lot of people will be able to buy new ones soon.
“This is the beginning of a historic period,” Ives said during the interview. “Our estimate is that 25 percent of the world will eventually have access to AI through an iPhone.” He also shared that this upgrade cycle could lead to a “supercycle” on X, formerly known as Twitter, marking a significant moment for Apple.
CFO Transition During a Major Product Launch
Apple recently announced that CFO Luca Maestri will step down on January 1, 2025. Kevan Parekh, Apple’s VP of Financial Planning and Analysis, will take over the role. Ives expressed confidence in a smooth transition, noting that such executive changes are common for Apple at the beginning of the year.
Gizchina News of the Week
Despite Maestri's departure, Apple is set to go ahead with its annual iPhone launch event, scheduled for Monday, September 9. Dubbed “Glowtime,” the event is expected to introduce the highly anticipated iPhone 16 series and other new products.
The Impact of Artificial Intelligence on Apple's Future
Investors and tech enthusiasts are keeping a close eye on Apple, particularly with the iPhone 16’s AI-focused features generating significant interest. Ives has previously stated that Apple is on a path “towards $4 trillion,” positioning itself as a key player in the consumer AI revolution. He believes Apple will serve as a gatekeeper to AI integration with the introduction of Apple Intelligence-branded features.
But some analysts warn that AI improvements will be rolled out gradually over the next few years. Not all features will be available right away; for example, an improved version of Siri isn’t expected until 2025.
What's Next for Apple?
With the iPhone 16 launch and continued advances in AI, Apple is entering what Ives calls a “historic period.” The company’s focus on AI could drive a major upgrade cycle and shape the future of mobile technology. As Apple heads into its “Glowtime,” all eyes will be on how these new developments will impact the market and whether Apple can continue its momentum as a leader in technology innovation.