The market continues to be bullish for Apple. It’s expected to recover from its first revenue contraction in years with the help of the iPhone 7 and the people who would buy it. And there are plenty of people who would buy it to replace their old iPhone.

Piper Jaffray analyst Gene Munster, for example, is expecting planned iPhone 7 upgrades from nearly 15 percent of users. Furthermore, 29 percent of iPhone owners are considering an upgrade and 67.3 percent of all iPhone owners have shot over their two-year carrier upgrade cycle. Munster surveyed 400 iPhone owners in the US to get these findings.

So, all of this must be good news for Apple, right? It’s all relative. Munster expects a 12 percent annual growth in sales for the iPhone, otherwise keeping flat with the iPhone 6.

Of course, take that 95 percent confidence as tightly as you’d want. Real numbers should prove interesting.

Source: StreetInsider

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