EXCLUSIVE: Apple Stock Could Benefit From Smartphone Upgrade Cycle, Poll Ranks Top Reason For Trade In (It's Not The Camera)

Core Insights - Smartphone manufacturers, particularly Apple Inc, are anticipating a surge in phone upgrades from consumers in the upcoming year, which could enhance revenue and profit margins [1] - A recent Benzinga poll indicates that less than 50% of consumers have upgraded their smartphones in the past year, suggesting potential for future sales growth for Apple [2][4] Consumer Upgrade Behavior - The poll revealed that 53.5% of consumers have not upgraded their smartphones in over 12 months, with 38.6% having upgraded within the last year [2][4] - Among iPhone users, 38% have not upgraded their phones in the last 12 months, while 22% have [7] Brand Power of Apple - The poll highlights Apple's strong brand presence, with 60.4% of respondents indicating they own an iPhone [3] Factors Influencing Upgrades - The most significant reason for considering a phone upgrade is having an outdated phone, cited by 28% of respondents, followed closely by the desire for artificial intelligence features at 27% [5][8] - Better battery life and improved camera quality are also important factors, with 26% and 19% respectively [8] Future Prospects for Apple - The lack of recent upgrades among consumers could bode well for Apple as it prepares to launch the iPhone 16 in September 2024 and the iPhone 17 thereafter, potentially incorporating new AI features [4]