Analyst Sees Apple’s New 5G iPhone Heading for Disappointment

Apple (NASDAQ:AAPL) is ready to debut its new 5G iPhone today, but one analyst thinks public reception to the newest model will be underwhelming.

Harsh Kumar, an analyst at Piper Sandler, says a survey of 1,000 people indicates only 10% of current iPhone owners say they will upgrade to the iPhone 12 after it debuts at today’s Apple event. according to a report by TheFly.com.

Apple iPhone cameras

Image source: Apple.

Kumar told investors in a note that previous surveys showed as many as 23% of iPhone owners had planned to upgrade to the newest iteration. So, he said, “We are a bit surprised by the lower than expected demand given the cellular transition, but the global pandemic may be putting pressure on spending patterns this fall/winter.” The new iPhone is expected to cost $1,200.

The low figure in the latest survey also is at odds with other surveys that have suggested

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