Apple’s top analyst reveals its big predictions through 2024, including a foldable iPhone

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Apple could release a new iPhone with an under-display fingerprint scanner in 2023 and an iPhone with a foldable screen in 2024, TF Securities analyst Ming-Chi Kuo said in a note Monday.

As Apple’s latest iPhone hits store shelves Friday, investors and analysts are already looking ahead to see what years could bring major iPhone upgrades that fuel growth and sales. Kuo is known for accurately predicting Apple’s hardware releases before they’re official, as he keeps a close eye on the company’s supply chain.

In 2022, Apple’s high-end “pro” models could have a new design with a “punch-punch” screen for the front-facing camera, instead of the notch on current devices. These phones could also be equipped with a 48-megapixel wide-angle camera, Kuo wrote. That would produce much sharper images.

Apple could also release new cheaper iPhones next year, Kuo wrote, including a cheaper iPhone SE with 5G connectivity. The current model SE retails for $399. Apple is also working on a “more affordable” iPhone with a 6.7-inch screen, Kuo said. Apple’s current phone with that screen size, the iPhone 13 Pro Max, costs $1,099 or more.

Kuo warned that all of these predictions depend on the development process of Apple and its suppliers, and that he previously predicted that some of these devices would appear sooner.

“We predict that the new 2H23 iPhone will support under-display fingerprints,” Kuo wrote, with a term for the second half of 2023. “However, the foldable design could be the main selling point for high-end smartphones by then, so we have yet to always track the contribution of the fingerprint under the screen to the shipment of the new 2H23 iPhone.”

Apple investors are curious to see if this year’s iPhones can continue to grow sales despite new models with marginal improvements like better battery life. The iPhone 12 has been a popular seller. iPhone revenues grew 50% year-over-year in the quarter.

Ultimately, Kuo expects 16% year-over-year growth in terms of the number of iPhones shipped in 2022, which would primarily be iPhone 13 sales, and 5% to 7% growth in 2023.

This year’s preorders for the iPhone 13 reflect higher demand than last year’s preorders for iPhone 12 models, Kuo said. Apple’s new iPhones will hit store shelves Friday, and pre-orders opened last week for customers who want to receive their devices on day one. The delivery estimates on Apple’s website for pre-ordered iPhones are a useful tool to gauge consumer demand for the new devices, Kuo wrote.

Demand for pre-orders is higher for the more expensive new models, the iPhone 13 Pro and iPhone 13 Pro Max, which start at $999 instead of $699 for the regular models, Kuo said.

While Apple has warned of difficulties getting the parts it needs to build its devices in the current quarter, Kuo believes Apple has increased production for its high-end devices and the supply is better than last year because the company addressed a shortage of telephotos. camera parts.

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