Apple’s new battery pack could solve my biggest complaint about the iPhone 12 Mini

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iPhone 12 Mini and iPhone 12 screen
Apple’s iPhone 12 Mini (left) alongside the iPhone 12 (right).

  • Apple just launched the MagSafe Battery Pack for the iPhone 12.
  • It’s a small magnetic attachment that can charge an iPhone 12 with 5W of power.
  • It could be especially useful for the iPhone 12 Mini given its short battery life.

Apple fans who prefer the smaller-sized iPhone 12 Mini have to make one important sacrifice: battery life. But Apple’s latest product should address that shortcoming.

The company just launched the $99 MagSafe Battery Pack, a wireless charging accessory designed to seamlessly connect to the iPhone 12. The new battery pack is available to order now from Apple’s website and comes in one white color option. It looks to be about the same size as Apple’s MagSafe Wallet and attaches to the back of the iPhone 12 lineup via magnets, just like Apple’s other MagSafe accessories.

The new attachment charges with five watts of power when being used wirelessly and 15 watts when plugged into a Lightning cable with a 20 watt power source. It requires Apple’s iOS 14.7 update in order to work and begins charging instantly once connected to a compatible iPhone.

The MagSafe Battery Pack could fix my biggest issue with the iPhone 12 Mini

The MagSafe Battery Pack works with all iPhone 12 models, but it could be particularly appealing to iPhone 12 Mini owners. That’s because Apple’s smallest iPhone 12 is also the shortest when it comes to battery life.

During my testing, the iPhone 12 Mini‘s battery dipped down to 23% after 9.5 hours of use, while the regular iPhone 12 had 34% of its battery left after 15 hours of similar usage. That’s probably long enough to get through an entire work day including your commute, but you’ll probably find yourself reaching for an outlet in the early evening.

Battery life will vary depending on a variety of factors such as screen brightness and app usage. But I’m not alone in bemoaning the iPhone 12 Mini’s battery life. Several other reviewers, including those at The Wall Street Journal, Gizmodo, The Verge, and PCMag all pointed out the iPhone 12 Mini’s shorter battery life as being a key drawback.

Of course, you can just purchase the regular iPhone 12 for about the same price as buying the iPhone 12 Mini with the new battery pack. But that doesn’t help the audience of iPhone users out there that prefer the iPhone 12 Mini’s more pocketable design.

As I wrote in my review of the iPhone 12 Mini, it’s much easier to type and scroll with one hand using the iPhone 12 Mini. This phone would have been incredibly useful during my morning commute before I started working from home in 2020, considering I’ve often struggled to operate the larger-sized iPhone 11 or 11 Pro with one hand while hanging on to a subway pole.

Are there other charging packs for the iPhone 12 Mini?

There are also other cheaper options available for those who want to extend their iPhone 12 Mini’s battery life, as is typically the case with Apple’s products. The $50 Mophie Snap+Juice Pack is probably the closest competitor to Apple’s MagSafe Battery Pack. It’s a MagSafe-compatible wireless charging pack that also seamlessly snaps onto the back of any MagSafe-compatible iPhone to provide an extra charge. It also works with Qi-enabled wireless devices from Samsung, Google, and other smartphone makers.

But Apple’s battery pack looks notably slimmer than most others I’ve seen, including the Mophie Snap+Juice. That might not sound like a big deal. But its sleeker design means the Apple MagSafe Battery Pack is probably better at giving the iPhone 12 Mini a much-needed battery boost while preserving its most appealing characteristic: its compact size.

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Apple reported $89.5 billion in revenue for the second quarter, smashing estimates as it continues its iPhone 12 high and stores return to normal operations

tim cook apple
Tim Cook in Cupertino in September 2019.

  • Apple kicked off 2021 with $47.9 billion in iPhone sales as the iPhone 12 lineup remains a hit.
  • iPhone production wasn’t impacted by the chip shortage, but MacBooks and iPads reportedly are.
  • All of Apple’s US stores were also open in March for the first time since last year.
  • See more stories on Insider’s business page.

Apple reported $89.5 billion in revenue during its 2021 fiscal second-quarter, which ran from January to March for the phone maker.

The company’s Q2 saw all of its stores open for the first time since the start of the pandemic. And while its iPhone production was unaffected by the sweeping global chip shortage, its MacBooks and iPad are reportedly postponed due to the semiconductor crisis.

Here’s a look at the key numbers. Analyst estimates are based on Yahoo Finance data.

Here are the key numbers to watch from Apple’s Q2 earnings:

  • Q2 2021 revenue: $89.5 billion. Analysts were expecting $77.3 billion.
  • Q2 2021 earnings per share (EPS): $1.40, versus Wall Street estimates of $0.56.
  • iPhone revenue: $47.94 billion. Analysts were expecting $41.49 billion.
  • Services Revenue: $16.9 billion, versus analyst estimates of $15.65 billion.
  • Wearables Revenue: $7.8 billion versus analysts’ estimates of $7.52 billion.

Apple’s fiscal second-quarter revenue is a dip from what was a record-breaking Q1 for the company when it reported more than $100 billion in sales, a first for the tech giant. The boom was in part driven by the holiday season and the company’s iPhone 12 line release in October. Some analysts called the lineup one of the most important launches that Apple has made in years.

Wall Street expects the company to deliver about 220 million iPhone units throughout 2021. iPhone production isn’t expected to be impacted by a global chip shortage that is slamming every industry. However, the production of some of Apple’s MacBooks and iPad has been delayed since the company pushed back some component orders for the devices to the back half of this year due to the shortage.

All of Apple’s 270 US stores were opened in March, marking the first time that the company’s retail presence in its entirety was open to customers since the start of the pandemic. However, stores will continue to observe limited capacity and other safety protocols.

Read more: The battle between Facebook and Apple over privacy is about more than just ads – it’s about the future of how we interact with tech

Apple faced mounting pressure in its fiscal second-quarter over a privacy crackdown that has begun rolling out. The iOS 14.5 software update, which became available Monday, requires app developers to ask for permission before they collect and track users’ data.

Facebook specifically has taken issue with the new feature since it directly impacts the company’s lucrative ad business, which is built upon data tracking.

Analysts estimate that Apple will pull in $68.67 billion in revenue for Q3. Apple’s fiscal third quarter, which runs from April to June, has already included a virtual event in which the company unveiled a new colorful line of iMac computers as well as a new purple-colored iPhone 12.

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Apple’s iPhone 12 Mini is a compact phone without compromise – unless you’re looking for extra-long battery life

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Table of Contents: Masthead Sticky

iPhone 12 Mini Back
The iPhone 12 Mini in green

  • Apple’s $700 iPhone 12 Mini comes with all of the same features as its bigger sibling.
  • Like the iPhone 12, it also comes in a new purple color option.
  • Its impressive camera also makes it stand out from Apple’s other tiny phone, the iPhone SE.
  • But that smaller size also means it offers shorter battery life than the iPhone 12.

Your phone is probably your lifeline to just about everything – the news, your job, friends and family, and entertainment – so it makes sense that the screens on our mobile devices have only gotten larger.

But, that increase in size also means our phones have become more cumbersome than ever, in some cases making it difficult to fit them in a tight pocket or use them with one hand.

Apple is looking to change that with the introduction of its $700 iPhone 12 Mini, a smaller-sized version of the iPhone 12 that comes with a 5.4-inch screen compared to the iPhone 12’s 6.1-inch display.

Despite having a larger screen than previous iPhones like the 4.7-inch iPhone SE and iPhone 8, the iPhone 12 Mini is actually more compact in size since it sheds the chunky borders and home button found on those devices.

The iPhone 12 Mini is otherwise identical to the iPhone 12, from its new design to its A14 Bionic processor, support for 5G, and improved cameras. That’s important because the available options for those who prefer smaller and more pocketable smartphones has significantly dwindled in recent years.

The reason behind this shift is simple: larger-sized smartphones have become much more popular over the last several years. For example, the market share for devices with screens measuring between 5.5 inches and 6.2 inches in size grew from 21% in 2015 to 44% in 2018, according to NPD Group. During that same period, the amount of smartphone owners using a device with a screen size smaller than 4.7 inches shrunk from 37% to 15%.

The iPhone 12 Mini is the first iPhone in years that feels like it’s designed to be held all day. But, you’ll have to be alright with compromising on battery life compared to the larger iPhone 12. And, the iPhone 12 Mini is launching at a time when it’s shining attribute – it’s pocket and purse-friendly size – is less relevant as people are spending most of their days at home.

Apple iPhone 12 Mini specifications

Apple iPhone 12 Mini Specifications
Display 5.4 inches Super Retina XDR OLED with 2,340 x 1,080 resolution
Processor Apple A14 Bionic
Cameras 12-megapixel dual lens camera with wide-angle and ultra-wide angle lenses
Selfie Camera 12-megapixel
Estimated Battery Life Up to 15 hours
Storage 64GB, 128GB, or 256GB
Memory 4GB RAM
Biometric Authentication Face ID
Network Support 5G (sub-6GHz and mmWave)
Durability IP68 (depth of 6 meters for up to 30 minutes); Display with ceramic shield coating for 4X drop resistance

Design and display

iPhone 12 Mini and iPhone 12 screen
The iPhone 12 Mini (left) and iPhone 12 (right)

After years of using big-screened phones, I’ve come to appreciate holding a phone that fits comfortably in one hand again.

With its 5.4-inch display, the iPhone 12 Mini falls squarely in between last year’s 5.8-inch iPhone 11 Pro and the 4.7-inch $400 iPhone SE in terms of size.

It’s the right middle ground for those who don’t want to compromise on modern features like a borderless screen, a dual camera, and Face ID, but also miss the portability of Apple’s older (and smaller) phones. It makes the $400 iPhone SE, which Apple launched earlier this year in April, feel antiquated by comparison – although that’s to be expected given the $300 price difference.

Typing and scrolling on the iPhone 12 Mini feels manageable with one hand yet spacious enough when operating it with two. It’s a bit larger than the iPhone SE in terms of screen size, and the difference is noticeable. For example, I was able to see several more lines of text on the iPhone 12 Mini compared to the iPhone SE when reading news articles.

The iPhone 12 Mini isn’t just the smallest version of the iPhone 12. It’s the tiniest iPhone that Apple sells, period. Not only is it smaller than the 4.7-inch iPhone SE, but it’s shorter, narrower, lighter, and thinner than the older iPhone 11 and iPhone XR too.

Under normal circumstances, the iPhone 12 Mini‘s compact design would be a godsend during my morning commute. I can’t tell you how many times I’ve struggled to use a larger-sized device like the iPhone 11 with one hand as I’m gripping the subway pole with the other.

iPhone 12 Mini and SE
The iPhone 12 Mini (left) and iPhone SE (right)

Size isn’t the only major physical change coming to the iPhone 12 Mini. Like its larger siblings, the iPhone 12 Mini has an all-new look that includes flat metal edges and new color options that give the iPhone 12 a fresh and distinguished look.

The downside? Apple’s iPhone 12 family – including the Mini – lack fingerprint sensors, meaning you’ll probably be typing in your passcode a lot whenever you leave the house these days.

Apple also brought the Super Retina XDR display, which was previously only found on its high-end smartphones, down to its less expensive new iPhones this year as well. That means the iPhone 12 Mini, like its bigger counterpart, offers better contrast and richer black tones compared to the iPhone 11. It also comes in a wide range of colors just like the iPhone 12, including a new purple finish. That new color option is available for preorder starting April 23 and goes on sale on April 30.

Unfortunately, however, theiPhone 12 Mini and the rest of Apple’s iPhones are missing an always-on display, meaning they can’t show information like the time, date, and battery level even when the screen is idle. It’s not a deal breaker, but it’s a helpful feature I’ve come to appreciate on Android devices.

Cameras

iPhone 12 Mini Camera
The iPhone 12 Mini’s dual camera

The iPhone 12 Mini comes with the same improved camera system as the iPhone 12, which means its better at capturing photos in the dark compared to the iPhone 11 since it has a wider aperture.

Night mode also works on all of the iPhone’s cameras on the iPhone 12: the wide camera, the ultra-wide-angle camera, and the selfie camera.You’ll also get other new features like the ability to record Dolby Vision video and take time lapse videos in Night Mode.

Compared to Android rivals like the Samsung Galaxy S20 Ultra and Google Pixel 5, I found that the iPhone 12 in some cases took photos that were more colorful and lively, but didn’t perform as well in other situations, such as when taking selfies in low-light scenarios. Check out our original review of the iPhone 12 to learn more about how the iPhone 12’s camera compares to those of the Google Pixel 5 and Samsung Galaxy S20 Ultra.

If you’re upgrading from an older, smaller-sized iPhone like the iPhone 8 or iPhone 7, you’ll notice a substantial difference in camera quality with the iPhone 12 Mini.

Those aging 4.7-inch phones lack newer photography features Night Mode and portrait mode, and only have a single lens camera. Because they only have one lens, they offer less flexibility with fewer shooting modes compared to the iPhone 12.

General image quality has also improved since the iPhone 12 Mini supports the latest version of Apple’s high dynamic range tech and Deep Fusion, the latter of which processes photos at the pixel level to optimize for texture, detail, and noise.

Trying to decide between theiPhone 12 Mini and Apple’s other recently-launched smaller-sized phone, the iPhone SE? Consider that the iPhone 12 Mini’s higher price tag means it has a lot more to offer when it comes to camera technology.

Unlike the iPhone SE, the iPhone 12 Mini has a dual camera that includes an ultra-wide angle lens for capturing a broader perspective, Night Mode for taking photos in the dark, Deep Fusion, better HDR, and a main camera that’s capable of taking in more light compared to its predecessor.

That might just sound like a lot of photography buzzwords strewn together, but the differences are palpable in the real world. In almost every scenario I tested it in, the iPhone 12 Mini captured photos with considerably richer color than the iPhone SE.

Take a look at the photos below and you’ll notice the red and orange shades in the leaves are much more vibrant in photos taken with the iPhone 12 Mini.

Apple iPhone 12 Mini

iPhone 12 Mini Trees

Apple iPhone SE

iPhone SE Trees

Here you can see the difference between the iPhone 12 Mini’s ultra-wide-angle camera and the iPhone SE’s standard wide camera. You’ll also notice the sky is a deeper hue of blue in the iPhone 12 Mini’s photo, making the iPhone SE look a bit washed out by comparison.

Apple iPhone 12 Mini

iPhone 12 Mini River

Apple iPhone SE

iPhone SE River

5G

iPhone 12 Mini in hand
The iPhone 12 Mini has a 5.4-inch screen.

All of Apple’s new iPhones support 5G, which is great for future-proofing your device but won’t make a noticeable difference right now. That’s because the version of 5G that’s widely available across the country is only marginally faster than 4G LTE.

My iPhone 12 Mini achieved average download speeds of 118.8 megabits per second (Mbps) and average upload speeds of 14.72 Mbps on Verizon’s nationwide 5G network. The results are a bit faster than the speeds I’ve experienced on 4G LTE, but not by a whole lot (91.44 Mbps download and 17.45 Mbps upload on average).

That lines up with my experience when testing the standard iPhone 12’s 5G speeds.

Super-speedy 5G networks do exist, but they’re only available in very small areas, like certain street corners in select cities across the United States. That’s because the spectrum these networks operate on a short range and struggles with penetrating structures like buildings.

All told, don’t upgrade to the newest iPhones just for 5G. But, if you’re already thinking of upgrading for other reasons, buying a new phone with 5G is a good way to ensure your device will feel relevant for years to come when 5G networks improve.

MagSafe accessories and battery life

MagSafe iPhone 12
The iPhone 12 on Apple’s MagSafe charger

The iPhone 12 line is also compatible with Apple’s MagSafe accessories, which magnetically snap to the back of your iPhone. Among the first of these accessories to become available is the MagSafe wireless charger and cases from Apple.

The $39 MagSafe power pad makes resting your iPhone on its charger slightly more convenient since it clings to your phone instantly, eliminating the need to fiddle with plugging in your phone or placing it in the right spot on your wireless charger. You’ll see a graphic showing your iPhone’s battery level once its connected, just as the Apple Watch does when placed on its charger.

MagSafe compatibility alone isn’t a must-have feature that will determine whether you should upgrade, but it’s a nice bonus that brings additional ease of use to the charging experience. I’m looking forward to seeing what third-party accessories do with the technology moving forward.

The iPhone 12 Mini will probably last all day on a single charge, but don’t expect to get nearly as much usage as you’d experience with the standard iPhone 12.

My iPhone 12 Mini’s battery was at 23% after about 9.5 hours of use, which consisted of streaming video for about 45 minutes, streaming music for 40 minutes, and gaming for about 10 minutes. I also took photos sporadically for an hour while at a nearby park and spent the rest of the day reading email, checking social media, and web browsing on the device.

The iPhone 12, by comparison, had 34% of its battery left after about 15 hours of use. But, it’s important to remember that battery life will always vary depending on the settings and apps you use on your device, so your experience may not match mine.

The bottom line

iPhone 12 Mini Screen

The iPhone 12 Mini represents a much-needed return to the smaller-sized smartphone, which has largely disappeared over the last several years. It’s the best choice for iPhone owners that have been holding onto their older device because they’re reluctant to upgrade to today’s large-screened devices.

Apple also sells the cheaper $400 iPhone SE, which has a slightly smaller screen but is generally similar in size. That phone is $300 cheaper but requires you to make some compromises since it’s lacking many modern features that have become staples of today’s phones.

The iPhone 12 Mini is the right option for Apple fans that want to save a little cash – it’s $100 less expensive than the standard iPhone 12 – and prioritize portability over having a bigger screen. But, for those who find themselves watching movies and TV shows or reading books on their iPhones often, you’ll probably want the extra screen space and longer battery life that the standard iPhone 12 offers.

Pros: Compact design makes it easy to use with one hand; Excellent camera; Elegant revamped design compared to last year’s iPhones; Sharp and vibrant OLED display; 5G support will keep the iPhone 12 Mini relevant in the future

Cons: Smaller size means you compromise on battery life; No fingerprint sensor; No always-on display; Nationwide 5G networks aren’t much faster than today’s 4G LTE

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Apple just unveiled a new purple color for the iPhone 12 that will be available for pre-order on Friday

Apple Event April 2021
iPhone purple

  • Apple unveiled a new purple color for the iPhone 12.
  • The announcement was made at Apple’s Spring Loaded event on April 20.
  • When the iPhone 12 was announced last year it came in black, blue, green, red, and white.
  • See more stories on Insider’s business page.

Apple is now offering the iPhone 12 in a light purple color, CEO Tim Cook announced during the company’s Spring Loaded event.

The new color, “just in time for spring” according to Cook, is now the sixth color available to choose from with the iPhone 12 line. When Apple unveiled the iPhone 12 and iPhone 12 Mini last fall, the new models came in black, blue, green, red, and white.

The purple iPhone 12 will be available for preorder on Friday and fully available on April 30.

“This gorgeous new color joins the iPhone 12 and iPhone 12 mini family, which is available in five other stunning finishes, and features an advanced dual-camera system, Super Retina XDR display, improved durability, A14 Bionic – the fastest chip ever in a smartphone – great battery life, and the best 5G experience on any smartphone,” Greg Joswiak, Apple’s senior vice president of Worldwide Marketing, said in the press release.

Apple iPhone 12 lineup has been called one of the company’s most important launches in years, according to some analysts. The smartphone models come with 5G compatibility, new sizes, and come with lower price tags. The standard iPhone starts at $799 and the iPhone 12 Mini starts at $699.

TheiPhone 12 comes in four different models: the iPhone 12, iPhone 12 Mini, iPhone 12 Pro, and iPhone 12 Pro Max.

Read more: Apple’s reportedly delaying its next Macs and iPads thanks to a global parts shortage, and it’s a bad sign for the whole tech industry

Apple’s Tuesday event, dubbed Spring Loaded, is expected to include an unveiling of a new iPad Pro as well as potential announcements of updates to AirTags, Apple TV, iMac, and the Apple Pencil. Apple released the current iPad Pro in March 2020. The event is currently available to watch on Apple’s website.

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Apple just increased the maximum amount you can get for trading in your old iPhone

iphone cases
Apple

  • Apple updated its trade-in prices for several old models of the iPhone, including the iPhone 11.
  • For an iPhone 11 Pro Max in good condition, a consumer can get $515, up from $500, MacRumors said.
  • Apple released four new versions of its iPhone 12 last October.
  • See more stories on Insider’s business page.

Apple has upped the ante for consumers who trade in their old iPhones for a new one, MacRumors first reported.

The maximum trade-in value for a used iPhone 11 Pro Max in good condition is now $515, according to Apple, an increase of $15, MacRumors said. Meanwhile the iPhone 11 Pro increased just $5 to $465, and the iPhone 11 rose $20 to $380, MacRumors said.

The maximum trade-in value for the iPhone 6s, a more than 5-year-old model, rose $5 to $65.

To trade-in a phone, consumers must answer questions about the model, condition, and storage on the old phone before getting an estimate and receiving an Apple gift card or cash. Apple last updated its trade-in prices in December, MacRumors said.

Apple did not immediately reply for Insider’s request for comment. The full list of maximum trade-in values for old iPhones can be found on the company’s website.

Read more: Apple just launched a new camera feature for the iPhone 12 Pro that could change the way we think about smartphone photography

Apple released four models of its new iPhone 12 last October: the iPhone 12, iPhone 12 Mini, iPhone 12 Pro, and iPhone 12 Pro Max. They range in price from $699 to $1,099, and each supports 5G.

Insider’s Lisa Eadicicco called the iPhone 12 and 12 Pro a “step up from their predecessors” because of the refreshed design and upgraded camera that can see in the dark as well as shoot RAW images.

With the release of the new phones, Apple discontinued four others, including the iPhone 11 Pro and iPhone 11 Pro Max, which were released in 2019. It also sent the iPhone 8 and iPhone 8 Plus, which were released alongside the iPhone X in 2017, to the graveyard.

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Socket Mobile spikes 980% after announcing barcode scanner for all iPhone 12s

iPhone 12
  • Socket Mobile stock jumped as much as 980% after it uveiled its new DuraSled barcode scanner for the iPhone 12.  
  • DuraSled is the company’s first enterprise-grade barcode scanner for iPhone 12s.  
  • Socket Mobile will sell three models of the DuraSled scanner. 
  • Visit the Business section of Insider for more stories.

Socket Mobile stock was up by nearly 1,000% on Tuesday, propelled by the company’s launch of its DuraSled barcode scanner for Apple’s iPhone 12.

The company said DuraSled is its first enterprise-grade barcode scanner for the iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max and iPhone 12 Mini. The DuraSled will give users of iPhone 12 models access to “professional-grade” scans. Such work includes delivery services, stock counting and ticketing.

Socket Mobile shares leapt to an intraday high of $35, a 980% bounce from their closing price of $3.24 on Friday, the last full day of trading before Monday’s Presidents’ Day holiday.

Socket said the DuraSled scanner will allow employers to support workers with iPhone 12 phones along with supporting older iPhone series ranging from the iPhone 6 to iPhone 11. The DuraSled itself comes in three models. 

Shares of Socket were on course Tuesday to rise by about 1,480% over the past 12 months.

 

 

 

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Apple said the Pro models of the iPhone 12 sold the best last quarter as a record number of people upgraded their devices

iPhone 12 Apple iPhone 12 Pro
A customer holds the iPhone 12, left, and the iPhone 12 Pro, right.

  • Apple said the iPhone 12 Pro and iPhone 12 Pro Max sold the best during its most recent quarter. 
  • Apple reported $65.6 billion in iPhone revenue in Q1, surpassing analyst estimates of $60.3 billion.
  • Apple also saw a record number of people upgrading their iPhones last quarter, CEO Tim Cook said.
  • Visit Business Insider’s homepage for more stories.

Apple said the high-end models of its latest iPhones sold the best during its most recent quarter. 

Apple reported strong earnings during its 2021 fiscal first quarter, beating Wall Street expectations and breaking its previous revenue record. The company reported $65.6 billion in iPhone revenue, surpassing analyst estimates of $60.33 billion.  

During a conference call following the company’s earnings, CEO Tim Cook said Apple’s new iPhone 12 Pro and iPhone 12 Pro Max were its best-selling iPhones last quarter.

Read more: Apple TV+ may lag far behind its competition, but Apple is still winning at its own game

Apple unveiled its new devices in October, one month later than it typically takes the wraps off its new phones. The Pro models start at $1,000, but the new lineup also includes the $800 iPhone 12 and $700 iPhone 12 Mini, less-expensive versions of its luxury phones.  

Cook said Apple also saw the largest number of people upgrading their iPhones than it’s ever seen in any previous quarters. 

Luca Maestri, Apple’s chief financial officer, noted on the call that Apple did face, and continues to face, supply constraints when it comes to producing the Pro models, which it hopes to solve during the March quarter.

The iPhone 12 Pro and iPhone 12 Pro Max contain more advanced cameras, OLED displays, and a a Lidar sensor, which is able to build a depth map of a scene to aid with mapping, augmented reality, and photos and videos.

All of the devices in Apple’s new lineup at 5G-enabled, which has been particularly beneficial in markets like China and South Korea, Cook said, which are further along in enabling 5G. Apple also saw a record number of upgraders to the iPhone 12 in China last quarter, he said. 

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Apple will climb 29% from current levels as the iPhone 12 5G kicks off the strongest product cycle in 6 years, says Wedbush

Tim Cook
  • Shares of Apple could gain nearly 29% over the next 12 months as demand soars for the new iPhone 12, according to a team of Wedbush analysts led by Dan Ives. 
  • Wedbush upgraded its Apple 12-month price target to $160 from $150 on Wednesday. The analysts are maintaining their “outperform” rating for the stock. 
  • “For the key China region, demand remains very healthy with strong pent up demand for upgrades heading into holiday season for this latest iPhone 12 5G, which we would characterize as the strongest product cycle for Cook & Co. thus far since iPhone 6 in 2014,” said Wedbush.
  • Visit the Business Insider homepage for more stories.

Shares of Apple could gain nearly 29% over the next 12 months as demand soars for the new iPhone 12.

That’s according to a team of Wedbush Securities analysts led by Dan Ives, who just updated their Apple 12-month price target to $160 from $150, while maintaining their “outperform” rating for the stock. Shares of the tech giant currently trade around $124.

Wedbush analysts say that demand for the iPhone 12 5G in the US and China is stronger than initially expected. 

“With more order activity kicking in over the last few weeks for iPhone 12 our initial reads are very bullish and give us incremental confidence in our supercycle thesis on iPhone 12,” said the analysts.

After initially anticipating 65 million iPhones to fill the supply chain during the initial launch period, Wedbush now forecasts that number to be closer to 80 million. According to their analysis, the only iPhone with a similar growth trajectory was the iPhone 6 in 2014.

“For the key China region, demand remains very healthy with strong pent up demand for upgrades heading into holiday season for this latest iPhone 12 5G, which we would characterize as the strongest product cycle for Cook & Co. thus far since iPhone 6 in 2014,” said Wedbush. 

Read more:We spoke with Wall Street’s 9 best-performing fund managers of 2020 to learn how they crushed the chaotic market – and compile the biggest bets they’re making for 2021

Wedbush also anticipates that 350 million of the 950 million iPhones worldwide are currently in “in the window of an upgrade opportunity,” which will lead to an “unprecedented upgrade cycle for Apple” as the holidays approach. Additionally, Apple could sell more than 240 million iPhones in 2021, said the analysts. The Street forecast is around 215 million units.

Wedbush added that China is a “key ingredient” for Apple. Roughly 20% of the iPhone upgrades will come from that region over the coming year, they said.

“In a nutshell, while services growth remains the key to the Apple re-rating story over the past six months, the hearts and lungs of the Apple growth story are built around iPhone installed base upgrades,” Wedbush said. ” With 5G now in the cards and roughly 40% of its ‘golden jewel’  iPhone installed base not upgrading their phones in the last 3.5 years, Cook & Co. have the stage set for a supercycle 5G product release.” 

 

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