"Dangerous" excitement heralds nearly every Apple Inc. (AAPL) launch, and the upcoming iPhone X one is no exception.
"I haven't seen this much excitement around a new iPhone since the iPhone 6 and 6 Plus," Loop Capital Markets analyst Anthony Chukumba said in an interview with TheStreet on Tuesday, Sept. 12, when Apple will debut three new iPhone models - the 8, 8 Plus and X.
The iPhone X, backed by 256 gigabytes of memory, is expected to cost $1,100, which could mean that customers skip other purchases, like a daily latte or a new shirt or two, to foot the phone's cost. Therein lies the danger for companies such as Starbucks Corporation (SBUX) or Macy's Inc. (M) , that could see sales dip.
"Phones are a necessity," added Chukumba. "People will definitely forgo other purchases to afford this iPhone. I can see a scenario where you might go, 'OK, I'll make one less trip to Starbucks.' "
Chukumba said that it's "entirely possible" for any company's sales where consumers typically make impulse buys to suffer from the iPhone launch including at Starbucks, McDonald's Corp. (MCD) and Wendy's Co. (WEN) or even retailers like Macy's , J.C. Penney Co. Inc. (JCP) and Nordstrom Inc. (JWN) .
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Most buyers are unlikely to plunk down $1,000 plus for an iPhone X. Instead, they'll opt for monthly installments, which could be $50. That's equal to about 16 $3.25 Tall Coffee Frappuccinos at Starbucks.
Apple released the 6 and 6 Plus models in 2014. It was the first time the tech titan launched two different sizes, the 4.7-inch and 5.5-inch screens.
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