JP Morgan: Apple is Working on Four New iPhone Models for 2020

Apple is likely preparing four new iPhone models for release in 2020, according to a new JP Morgan report via CNBC.

“Our positive volume outlook for 2020 is driven by our current expectation for the launch of four iPhone models ... and more significant spec upgrades,” wrote analyst Samik Chatterjee.

Three of the new iPhone models are said to feature OLED displays and 5G modems...


Our expectations include all three Sep-2020 iPhones (5.4″/6.1″/6.7″ screen sizes) will adopt OLED displays and 5G baseband modems (with support for mmWave frequencies), and at least two of the three models adopting world facing 3D Sensing (Time of Flight) driving industry leading AR/VR capabilities which can be leveraged by custom built applications (including games).

The fourth model is said to be a low cost iPhone that’s the same size as the iPhone 8 but does not have a 5G modem or OLED display.

Based on these predictions, JP Morgan is increasing its year-end price target on AAPL from $233 to $239. That's up 19% from Monday's close.

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