Apple's iPhone 16 receiving strong customer response and high demand, potentially boosting sales

From Nasdaq.: 2024-09-28 11:45:00

Initial reports suggested weaker demand for Apple’s latest iPhones, but the iPhone 16 lineup is actually receiving a strong customer response, potentially leading to increased sales. iPhone 16 models are experiencing high demand in India, with significant sales growth. T-Mobile CEO notes increased iPhone 16 sales compared to last year.

Potential sales boost for Apple as iPhone 16 models cater to a large installed base of old iPhones set for upgrades with generative AI features. Apple’s AI-enabled smartphones set to drive growth. Investors may benefit from buying Apple stock or consider investing in Taiwan Semiconductor Manufacturing (TSM) for cheaper valuation.

TSMC sees revenue growth thanks to manufacturing processors for new iPhones using advanced technology for improved performance and power efficiency. TSMC’s monthly revenue has surged year over year, largely due to increased iPhone production. Apple’s significant contribution to TSMC’s top-line revenue positions the foundry giant for continued growth.

TSMC expected to see production increase by 8-10 million units for iPhone 16 models in 2024, contributing to its revenue growth. Apple may have secured all of TSMC’s 2nm manufacturing capacity for 2025 iPhones. TSMC’s low valuation compared to Apple and promising AI chip market outlook make it an attractive investment option.



Read more at Nasdaq.: Prediction: Apple’s iPhone 16 Could Become a Runaway Hit, and Here Is 1 Stock to Buy Hand Over Fist Before That Happens