Apple’s upcoming iPhone SE 5G may assist entice billion-plus Android users- J.P.Morgan By Reuters

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(Reuters) – Apple Inc (NASDAQ:)’s upcoming iPhone SE 5G has the potential to draw greater than a billion non-premium Android customers, J.P. Morgan analysts stated on Monday.

The corporate is predicted to launch the iPhone SE with 5G capabilities in early 2022, in response to media stories and the brokerage, with the analysts including the mannequin will enable Apple to focus on the mid-range smartphone market dominated by rivals comparable to Samsung Electronics (OTC:) and Huawei Applied sciences.

The upcoming smartphone has the potential to lure almost 1.4 billion low- to mid-end Android cellphone and about 300 million older iPhone mannequin customers, the brokerage estimated.

“Apple’s trade-in program for non-iPhones is admittedly not as engaging because the iPhone trade-in values, it may nonetheless result in a median beginning value vary of $269 to $399 for the 5G iPhone SE, which remains to be very aggressive,” analyst Samik Chatterjee, rated 5 stars on Refinitiv Eikon for his estimate accuracy, stated.

The iPhone SE presently begins from $399, in contrast with $799 for the iPhone 13 and $999 for the iPhone 13 Professional.

Since launching the iPhone 13 vary and new iPads in September, Apple has scrambled to maintain up with the worldwide chip scarcity and provide chain disruptions.

In the meantime, Apple’s shares have prolonged their march, with the corporate inching nearer to the $3 trillion in market capitalization.

In a separate notice, J.P.Morgan stated client demand for main upgrades like 5G fashions is predicted to stay sturdy and likewise a precedence for provide, even because it wanes for many {hardware} merchandise together with smartphones, TVs and PCs.

The brokerage raised its estimates for fiscal 2022 iPhone SE unit gross sales to 30 million items and annual iPhone shipments expectations to 250 million items, 10 million increased than a 12 months earlier.

JPM raised its goal value for Apple to a Road excessive of $210 from $180, in response to Refinitiv Eikon.

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