Update on Apple – Crestwood Advisors

Yesterday Apple announced a new budget phone, the iPhone SE (second generation) starting at $399. This phone completely replaces the iPhone 8, and has the latest A13 Bionic similar to the iPhone 11 which means you get all the computational power of the flagship smartphone at about half the price, but it’s smaller at 4.7″ vs 6.1″…and has fingerprint sensor instead of Face ID…full spec comparison below for anyone that’s interested. This phone expands their addressable market beyond high-end phones, where Apple dominates…low-end and mid-tier phones make up a bigger share of the market. The mid-priced segment ($250-$500) represented 20% of total global sales and 19% of shipments in 2019, according to IDC. Apple has about 14% share globally and close to 50% share domestically. They dominate share of high-end phones and the US is the largest high-end phone market with China being the next largest.