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Apple CEO Tim Cook announces the launch of the iPhone 12, which is the first iPhone enabled to harness the power of the 5G network.
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Still, Wedbush Securities analyst Dan Ives said the 5G-enabled technology in the iPhone could, with time, be a «game changer» as more infrastructure comes on line and as more apps are built «around this transformational 5G highway over the coming years.»
The iPhone 12 will also feature a smaller, smoother design and a «ceramic shield» to help protect the glass cover from breaks and cracks. The smallest version starts at $699.
Dan Morgan, a portfolio manager at Synovus Trust and longtime Apple investor, said iPhone sales peaked about five years ago. Every update since then has been more of a ripple than a wave, he said, noting that he does not expect the iPhone 12 to set any sales records.
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«Is it going to blast the roof off in terms of the number of phones sold for the remainder of this year and early next year? Probably not,» Morgan said. «But I’d say it’ll result in some good, solid growth.»
With so many working from home and using Wi-Fi as their main connection to the Internet, Morgan said a 5G connection may not be as attractive to those seeking faster speeds.
«If you really wanted to watch a Netflix movie or play a game, maybe you can just go and use your Wi-Fi instead right now,» he said.
Apple, the most valuable company in the world, has seen its stock surge during the pandemic and is now worth $2 trillion.