T-Mobile talks to CNBC on Monday about the record iPhone week, to confirm more of what Jim Cramer has been saying since its launch. This year’s upgrade cycle is underestimated. “T-Mobile’s iPhone sales are at a record high of all time,” Outgovering CEO Mike Sievert said on Monday’s “Squawk on the Street.” “We just had the biggest iPhone week. We’ve been up double digits from a year ago,” which was a previous record. This is great news for the club that holds Apple, given that the iPhone is the company’s flagship device and the biggest money maker. The increase in sales of T-Mobile devices adds evidence of a stronger than expected increase in demand for iPhone upgrades. This is a call that Jim made with the latest iPhone 17 model and brand new iPhone Air just after it was first announced on September 9th. In fact, Jim describes the launch of the new iPhone as “huge” and claims that the new device is a “budget” despite price increases. “What Apple is saying is, ‘Look, these are perfect prices, but with T-Mobile receiving discounts from airlines like Mike Sievert, the value of the trade-in turned out to be more than we thought.’ So the prices didn’t go up,” Jim explained at a Monday morning meeting of club members. Sievert said 75% of sales were the iPhone Pro or iPhone Pro Max this year. Jim noted that it will increase the average selling price for this upgrade cycle. T-Mobile Management also laid out the reasons why new iPhones are selling like never before. Next CEO Srinivasan Gopalan said it was due to Apple’s decision to create a fresh look for the latest iPhone, including a variety of colors such as the Cosmic Orange and The Lightweight iPhone Air that Jim himself would like to upgrade. “I think all of a sudden, people can make their new iPhone visible on the table. I think this will encourage some of the upgrades and momentum,” added Gopalan, who was announced as the new CEO on Monday. T-Mobile News wasn’t the only positive for Apple. In a Sunday memo to clients, Wedbush raised its Apple price target from $270 to $310 per share. It’s the best on Wall Street right now. The new PT represents 26% upside since the end of Friday. Wedbush analyst Dan Ives said, “We believe that Asian supply checks will increase production by around 20% on the iPhone 17 and Pro models. The new iPhone Air could surprise this Apple upgrade cycle, based on numerous store checks over the weekend, talking to Apple customers.” Wedbush maintained its stock purchase rating. All Hoopra followed the mixed iPhone 17 reception from some analysts last week. Jefferies, for example, said Apple iPhone Lead Times, a key early sign of demand for devices, is tracking worse tracing than last year in key markets like US gyms told investors not to worry about these kinds of calls. Instead, it focuses on what Tim Cook, CEO of T-Mobile and Apple, himself said. Cook shared his thoughts on Jim and analyst chat on Friday. “We’re not only looking at what we’re projecting, but we’re looking at what other people are,” he said. AAPL YTD Mountain Apple YTD The good news from Apple on Monday was that it raised its shares from over 4% to over $256, wiping out losses from the start of the year. “You want to stay with this company for a long time. This could be a breakout moment,” Jim emphasized late last week. Apple’s club’s $240 price target is under consideration. After a tough start to 2025 due to concerns over China’s tariffs and artificial intelligence, Apple stocks have skyrocketed over 25% over the past 30 days. Apple’s stock was close to a $259 record on December 26, 2024. Certainly China’s concerns and lack of visible AI strategy are still there, but investors are focused on Apple’s victory for now. (Jim Cramer’s Charitable Trust is a long AAPL. For a full list of stocks, see here.) As a CNBC Investing Club subscriber with Jim Cramer, you will receive a trade warning before Jim makes a transaction. Jim waits 45 minutes after sending a trade alert before purchasing or selling stocks in the Charitable Trust portfolio. If Jim talks about stocks on CNBC TV, he will wait 72 hours after issuing a trade alert before running the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with the disclaimer. Due to receiving information provided in connection with the Investment Club, there is no obligation or obligation of the fiduciary. No specific outcomes or benefits are guaranteed.
