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2 Stocks That Could Get a Boost From iPhone 13 Sales

Stock Markets Sep 30, 2021 12:30PM ET
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© Reuters. 2 Stocks That Could Get a Boost From iPhone 13 Sales

iPhone maker Apple (AAPL) is poised to maintain its sales momentum that kicked off last year with the iPhone 12. Since many customers are ready for an upgrade, the newly released iPhone 13 should undoubtedly continue to see a significant surge in sales. Therefore, iPhone’s component suppliers Broadcom (NASDAQ:AVGO) and QUALCOMM (QCOM) should benefit from the sales super cycle.Tech giant Apple Inc. (NASDAQ:AAPL) launched the much-awaited iPhone 13 line on September 14, and analysts predict a huge demand for upgrading older iPhones to drive sales significantly. Wedbush analysts expect 250 million iPhone users to go for an upgrade this cycle. More than 2 million pre-orders were placed in China for the iPhone 13 through AAPL’s official store on JD.com, Inc. (NASDAQ:JD), and it surpassed last year’s pre-orders for iPhone 12.

Wedbush analysts believe that AAPL is still in the middle of its “supercycle” of iPhone sales. Moreover, the sales momentum is expected to remain high ahead of the holiday shopping season, with improved features like increased battery life, higher default storage space, and camera up-gradation.

Given this backdrop, it could be wise to bet on shares of iPhone’s component suppliers Broadcom Inc. (AVGO) and QUALCOMM Incorporated (NASDAQ:QCOM). These stocks are expected to rally on solid iPhone 13 sales.

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2 Stocks That Could Get a Boost From iPhone 13 Sales
 

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