JP MORGAN analysts predict that up to 1.4 billion Android users could switch over to iPhone in 2022.
The investment bank believes the shift to iOS will happen because of Apple Inc’s (AAPL.O) upcoming iPhone SE 5G.
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The tech giant is expected to launch the iPhone SE, which will have 5G capabilities, in early 2022, according to media reports.
The SE model has often been viewed as Apple’s “budget” phone, and for this reason, analysts believe it is primed to attract the mid-range smartphone market normally dominated by Samsung and Huawei.
The investment bank also estimates that up to 300 million iPhone users could switch over from older models to the new SE 5G.
“Apple’s trade-in program for non-iPhones is admittedly not as attractive as the iPhone trade-in values, it could nonetheless lead to an average starting price range of $269 to $399 for the 5G iPhone SE, which is still very competitive,” Samik Chatterjee, a five-star JP Morgan analyst, said.
When compared with the iPhone 13, which starts at $799, and the iPhone 13 Pro, which goes for $999, the upcoming SE prices seem like a steal.
The expected migration to iOS will more than likely cause Apple stocks to rise, according to the brokerage, who raised its target price for the company to $210 from $180.
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The investment bank also raised its estimates for fiscal 2022 iPhone SE unit sales to 30 million units, and annual iPhone shipments expectations to 250 million units.
Apple’s stock rose by about 11% last week and by 1% this past Monday, making it just $2 shy of reaching a $3Trillion valuation.
The launch of the new iPhone SE just might be the shove that Apple needs to bring it well into $3Trillion market value territory.
Should Apple achieve this goal, it would become the world’s first company to do so.
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Warning for millions of Apple fans NOT to buy new iPhone model
In other news, Apple Music is taking on Spotify with a new half price plan with a twist.
Snapchat has revealed it has given away a whopping $250million (£189million) to its creators over the last year.
And people are being urged to look out for fake Omicron emails landing in inboxes in the coming days.
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