Gene Munster: Apple Intelligence will ultimately be the catalyst for an iPhone upgrade ‘supercycle’
The rollout of Apple Intelligence features, which include long awaited upgrades to its neglected Siri personal digital assistant, an AI image generator, notification summaries, and many more elements will take several months to years, as Apple deals with language, tech, and regulatory challenges.
Martin Baccardax for TheStreet:
That delay, in fact, is part of the reason Apple’s near-term revenue forecast, which estimates December-quarter sales rising in the low-to-mid-single digits percent, was seen as largely disappointing for investors who were looking for an early indication that Apple Intelligence was sparking demand for the newly released iPhone.
“This is still a waiting game when it come to the benefits of AI iPhone growth,” said Deepwater Asset Management’s Gene Munster, who remains convinced that AI will ultimately be the catalyst for an iPhone upgrade “supercycle.”
“The most potent piece of this demand acceleration is likely to come in the June quarter,” he said. “I don’t think it’s going to play out in December.”
MacDailyNews Take: Gene Munster is correct. The rollout of meaningful and useful Apple Intelligence features over time will lead to a multi-year iPhone upgrade supercycle.
Get ready for the looming multi-year iPhone supercycle. – MacDailyNews, July 31, 2024
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