2019 iPhone to “Be the Weakest in Years,” Analyst Warns
Apple is projected to unveil its new iPhone generation in September, but the company is reportedly holding back quite a lot of major upgrades for the 2020 model.
In other words, while the upcoming iPhone will come with some improvements of its own, it’s the 2020 iPhone the one that is worth waiting for. And Raymond James analyst Chris Caso reiterated the same idea in a recent note to investors.
Caso explains that Apple is very likely to recover in 2020 when the company unveils the 5G iPhone, setting a target price of $250 for Apple shares. At this point, Apple shares are trading for $205.25, so if Caso is right, the 5G iPhone can generate a massive growth that would push the company back to $1 trillion valuation.
5G iPhone coming next year
The analyst believes that the 2019 iPhone is very likely to be a disappointing model, so he advises clients to be very cautious if they want to invest in Apple.