Initial reports indicate that Apple's latest smartphone release, the iPhone 17, is experiencing a robust sales performance, surpassing preliminary forecasts. This strong demand is largely attributed to a substantial segment of consumers who have delayed upgrading their devices for several years. Experts point out that approximately 315 million iPhone users globally have not replaced their handsets in the past four years, creating a significant wave of potential upgraders. This trend suggests that the current sales success is primarily driven by this accumulated demand for newer technology rather than groundbreaking innovations in the new model itself.
Market analysts are taking note of this positive trajectory. Wedbush Securities analyst Daniel Ives, for instance, reaffirmed an 'outperform' rating on Apple's shares and increased his 12-month price target, citing the better-than-expected unit sales. He believes that current industry estimates for iPhone unit sales in fiscal year 2026, which stand around 230 million, might be conservative and could realistically climb to between 240 million and 250 million. Similarly, Gene Munster of Deepwater Asset Management echoes this sentiment, anticipating that the iPhone's performance will exceed Street expectations for the upcoming fiscal year.
While the overall sales volume for the iPhone 17 is encouraging, some analysts, like Jefferies' Edison Lee, highlight a potential challenge: the average selling price. Observations suggest that sales of the standard iPhone 17 models are particularly strong, while the higher-priced iPhone Air and iPhone 17 Pro models are seeing relatively weaker demand. Despite this, Apple's stock is approaching a crucial 'buy point' of 260.10, according to IBD MarketSurge charts, indicating a potentially favorable entry point for investors following a prolonged period of consolidation.
The tech landscape continues to evolve rapidly, and companies like Apple must constantly innovate while navigating market dynamics. The current success of the iPhone 17 underscores the enduring power of a loyal customer base and the cyclical nature of consumer electronics. This period of strong upgrades offers Apple an opportunity to reinforce its market position and continue its journey of technological advancement, ultimately benefiting its stakeholders and the broader technology sector.