T-Mobile telling CNBC on Monday about a record iPhone week is further confirmation of what Jim Cramer has been saying since launch. This year’s upgrade cycle has been underestimated. “I can tell you that T-Mobile’s iPhone sales are at all-time record highs,” outgoing CEO Mike Sievert said during ” Squawk on the Street ” on Monday. “We just had the biggest iPhone week. We’re up double digits from a year ago,” which was the previous record. This is great news for Club holding Apple, given that the iPhone is the company’s flagship device and biggest money maker. The increase in T-Mobile device sales adds to the growing evidence of stronger-than-expected demand for iPhone upgrades. It’s a call that Jim has made on the newest iPhone 17 models and brand new iPhone Air shortly after they were first unveiled on Sept. 9. They hit stores last Friday after a week of preorders. In fact, Jim has described the new iPhone rollout as “gigantic,” arguing the new devices are “more of a bargain” even with some price increases. “What Apple is saying is, ‘Look, these are full price, but because you get a discount from the carriers like Mike Sievert at T-Mobile and the value of the trade-in turned out to be more than we thought.’ So, there’s been no increase in price,” Jim explained during Monday’s Morning Meeting for Club members. Sievert said Monday that 75% of their sales have been iPhone Pro or the iPhone Pro Max this year, which Jim pointed out will increase the average selling price for this upgrade cycle. T-Mobile management also laid out why sales for the new iPhone have so far been impeccable. Incoming CEO Srinivasan Gopalan said it’s due to Apple’s decision to create a fresh look for its newest iPhones, including different colors like cosmic orange and the lightweight iPhone Air, which Jim himself wants to upgrade to. “I think that suddenly allows people to visibly put a new iPhone on the table, which I think drives some of the upgrades and momentum,” added Gopalan, who was announced Monday as the new chief executive, effective Nov. 1. Sievert, who has been CEO since April 2020, will become vice chairman. The T-Mobile news was not the only positive for Apple. In a Sunday note to clients, Wedbush raised its Apple price target to $310 per share from $270 — now the highest on Wall Street. The new PT represents 26% upside from Friday’s close. Widely followed Wedbush analyst Dan Ives wrote, “We believe supply checks in Asia will result in production increases of roughly 20% for base iPhone 17 and Pro models. The new iPhone Air could be the surprise of this Apple upgrade cycle based on our numerous store checks over the weekend, speaking with Apple customers.” Wedbush kept its buy rating on the stock. All the hoopla did follow a mixed iPhone 17 reception from some analysts last week. Jefferies, for example, said that Apple iPhone lead times , a key early indication of demand for the devices, were tracking worse than last year in major markets like the U.S. Jim has told investors not to worry about these kinds of calls. Instead, focus on what T-Mobile and Apple CEO Tim Cook himself has said. Cook shared his thoughts on the analysts’ chatter with Jim on Friday. “I only look at what we’re projecting, not what others are,” he said. AAPL YTD mountain Apple YTD Monday’s good news for Apple lifted shares more than 4% to $256, wiping out their year-to-date losses. “You want to stay long on this [stock]. This could be the breakout moment,” Jim stressed late last week. The Club’s $240 price target on Apple is under consideration. After a tough start to 2025 on China tariff and artificial intelligence concerns, Apple stock has been on a roll, surging more than 25% over the past 30 days. Apple shares were inching closer to their record close of $259 on Dec. 26, 2024. To be sure, China worries and the lack of a visible AI strategy are still out there, but investors have been concentrating on Apple’s wins for now. (Jim Cramer’s Charitable Trust is long AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
