Tech

Pent-up demand drives staggering iPhone sales last quarter, analysts say

Apple posted $143.76 billion in quarterly revenue, with iPhone revenue of $85.3 billion, up 23% year over year. Analysts attribute the surge to pent-up upgrade demand and the iPhone lineup, even as price moves shape the mix.

📅 January 31, 2026
⏱️ 2 min read
Pent-up demand drives staggering iPhone sales last quarter, analysts say

Key Takeaways

  • Total quarterly revenue was $143.76 billion and iPhone revenue $85.3 billion, up 23% YoY.
  • Wedbush estimates roughly 315 million global iPhone users had not upgraded in 4+ years.
  • CIRP says 52% of US iPhone sales are Pro or Pro Max.
  • Analysts expect a continued upgrade cycle over the next 12-18 months, aided by AI features and ecosystem momentum.
  • Nearly half of US iPhone users hold smartphones for 3+ years, underscoring upgrade potential.

People Involved

  • Tim CookApple CEO
  • Dan IvesWedbush analyst
  • Josh LowitzCIRP co-founder

Entities Involved

  • Apple Inc. (AAPL)Technology company
  • CIRP (Consumer Intelligence Research Partners)Market research firm
  • Wedbush SecuritiesInvestment research and brokerage firm

MarketMoodz Analysis

Apple's quarterly results show a durable upgrade cycle, with iPhone revenue up 23% YoY to $85.3 billion and total revenue at $143.76 billion, underscoring the strength of the iPhone ecosystem as buyers upgrade sooner than expected. The pricing strategy and lineup timing appear to have nudged customers toward newer devices, supporting premiumization within the mix.

Wedbush's ~315 million long-tenure iPhone users implies a sizable pool primed for upgrades, aligning with the upgrade thesis that has historically driven Apple’s hardware cycle and margin resilience. CIRP's finding that 52% of US iPhone sales come from Pro and Pro Max models reinforces the premium mix dynamic, suggesting healthier ASPs even if the overall unit growth moderates.

Looking ahead, investors will want to see whether AI-enabled features and ecosystem momentum translate into sustained demand over the next 12-18 months, alongside any guidance on iPhone mix and services growth. While several claims in the report involve anonymous sources and lack independent verification, the core numbers point to a constructive path for Apple if upgrade activity remains resilient.

Source: Original Article

Get AI-Powered Market Insights

Stay ahead of market-moving events with our real-time analysis and stock ratings.

Start Your Free Trial