IPhone 11 Pricing, Upgrade Cycles Could Bolster Sales: Report - TheStreet

Sales of Apple's (AAPL) - Get Report iPhone 11 look healthy out of the gate, but it isn't because of new features. 

Demand for Apple's latest iPhone 11 lineup looks better than the company expected, according to Bloomberg.

The Cupertino, Calif., tech giant told suppliers to target as many as 75 million iPhone units for 2019, the top end of a range Apple established earlier this year.

Apple shares were little changed Monday at $236.49. Its shares are up 49% this year. 

The $999 version of the iPhone 11 Pro, which has a 5.8-inch screen, is one of the most popular new models, according to Bloomberg. 

Apple's iPhone 11 pricing strategy -- the lineup includes a base iPhone 11 ($699), iPhone 11 Pro ($999) and iPhone 11 Pro Max ($1099) -- is helping to drive overall sales.

Many iPhone 11 owners may also be looking to upgrade now, with 40% of iPhone owners using a model that is more than two years old, according to analytics firm Mixpanel.

Apple CEO Tim Cook recently told Bild, a German newspaper, that sales of the iPhone 11 are off to a "very strong start."

Apple is due to report its latest earnings on Oct. 30. 

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