Wedbush, an investment bank, saw the iPhone 12 series as Apple’s strongest product in years and raised its target share price to $160. In a note to investors seen by Appleinsider, chief analyst Daniel Ives said the bank saw significant growth in demand around both the iPhone 12 pro and the iPhone 12 Pro max, which has become a star selling product. < p > < p > Daniel Ives said orders had been increasing over the past few years, giving the bank greater confidence in its 5giphone & quot; super cycle argument. The analyst predicted that the initial sales of the iPhone 12 will be 80 million units, with an extended target of more than 80 million units. That’s up from the 75 million iPhones forecast at the end of October and further up from the previous estimates of 65 to 70 million. < p > < p > Daniel Ives said analysts have not seen such an upward trend in Apple products for several years, and the only similar iPhone trajectory should be the iPhone 6 in 2014. Based on delivery times and supply chain checks, the number of advance orders so far seems to be twice that of the iPhone 11 series. < / P > < p > although Wall Street estimates the current forecast of 215 million iPhones in 2021, Ives believes that the current trajectory may lead to a bull market in Apple’s stock price, with iPhone shipments likely to reach 240 million units, breaking the previous record of 231 million units in 2015. < / P > < p > China remains a key element of Apple’s success, with 20% of the company’s iPhone upgrades coming from the region in the coming year. While services have been the key to Apple’s re rating story over the past six months, the core of Apple’s growth has been around the iPhone. With the advent of 5g, 40% of iPhone 12 series users have not upgraded their phones in the past 3.5 years, and apple has set the stage for 5g product release in the super cycle. < p > < p > Daniel Ives raised Apple’s 12-month target share price from $150 to $160. This is based on wedbush’s total estimate of Apple’s fiscal year 2022, in which the service multiple is 15 times, which is US $1.1 trillion, and the multiple of Apple’s other hardware business is 6.5 times, which is 1.7 trillion US dollars, which increases the estimated value of Apple’s hardware business to $2.2 trillion. Global Tech