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Financial analysts at Canaccord Genuity say Apple’s upcoming iPhone 6 will pay off, big time, for the company, in the form of record sales.
T. Michael Walkley and Siddhartha Sinha said in a client memo this week that their recent surveys indicate consumers are willing to fork out more money for the new, larger-screen device. Insiders say Apple will make two versions of the iPhone 6: one with a 4.7-inch display, significantly larger than the iPhone 5s’s four-inch screen, and another with a 5.5-inch display.
In fact, the analysts said they believe consumers held off on buying the iPhone 5 and 5s in anticipation of the iPhone 6. Those “extended replacement rates combined with new larger-screen iPhones position Apple with its large installed base for record iPhone 6 sales," Walkley and Sinha wrote.
On top of that, the analysts predict that Apple “will charge a premium" for the iPhone 6, resulting in higher gross margins and revenue. So, Walkley and Sinha recommend investors buy Apple stock, saying they remain “bullish" on the company’s product cycle and financials.
The stock-buying suggestion comes on the heels of Apple’s latest earnings report, which boasted $7.7 billion in income. Industry observers expect Cuptertino to unveil the latest iPhone in September, but an official release date has yet to be announced. Walkley and Sinha said they think the iPhone 6 will ship in the second half of September.