Apple's new iPhone 11 Pro Max, 11 Pro and 11 are displayed after they went on sale at the Apple Store in Beijing
Apple's new (L-R) iPhone 11 Pro Max, 11 Pro and 11 are displayed after they went on sale at the Apple Store in Beijing, China , September 20, 2019. (Photo: REUTERS/Jason Lee)

Apple analyst Ming-Chi Kuo has released a new research note predicting sales growth for the Cupertino tech giant in the first quarter of 2020. The boost is being credited to the strong replacement demand for the iPhone 11 range and the expected launch of an unannounced new device he calls the iPhone SE 2.

It is believed that shipments for the iPhone 11 series will reach up to 75 million units this year, according to the prediction of the TFI Securities analyst. Kuo added that the number could even reach new heights if not for supply constraints. Previously, the analyst stated that Apple may have increased order from its suppliers following the unexpected strong demand for its newest flagship devices. In his research note, Kuo specified that iPhone 11 Pro shipments will amount to approximately 40 million units this year, while the iPhone 11 will be around 36 to 40 million units. Should the figures turn out correctly, Kuo emphasized that shipments for the Pro series will be lower than those of the iPhone XS shipments last year, which is caused by production issues that contributed to the tighter supply. Meanwhile, the iPhone 11 will experience better shipments compared to last year's iPhone XR, mostly due to the difference in shipping schedules. Last year, shipping for the XR didn't begin until the middle of the fourth quarter.

Kuo claims that Apple has upped the capacity requirements for some suppliers in the fourth quarter to ensure that the demand for 2020 shipments will be met. The analyst further believes that the iPhone 11's replacement demand could run in Q1 2020, resulting in better sales for the iPhone 11 range overall.

"Investors worry Apple will decrease new iPhone shipment forecasts in October as the company used to," Kuo wrote in his new research note. "But iPhone 11 series' general shipping times are currently more than two weeks, and it implies the likelihood of Apple's order cut is fading away."

Previously, Kuo claimed that Apple is thinking of releasing a more affordable iPhone, which is now being referred to as the iPhone SE 2, in the first quarter of 2020. He revealed that this lower-priced device will have the same specs and form factor design as the iPhone 8, with 3GB of RAM and a faster A13 chip.