5G Likely Won't Mean 'Supercycle' of iPhone Sales, Says LightShed

LightShed deemed Apple "neutral" Wednesday, saying 5G is unlikely to trigger a “supercycle” of iPhone sales, and consensus revenue and earnings estimates for 2021 are too optimistic. But carriers "will increase ad spend and use new network implementations to boost interest in 5G,” analyst Walter Piecyk told investors: COVID-19 “threatens our prediction of a stabilization in upgrade rates in 2020 based on near-term store closings and intermediate-term economic impacts.”