Apple Inc. (AAPL) won't be alone in benefiting from the iPhone 8, 8 Plus and iconic X launches, details of which will be revealed on Tuesday, Sept. 12.
So, too, will retailers and service providers carrying the new phones, such as Best Buy Co. Inc. (BBY) , Amazon.com Inc. (AMZN) , AT&T Inc. (T) and Verizon Communications Inc. (VZ) , see sweet rewards.
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"Anytime you have a new iPhone, typically with a high-profile launch, it drives store traffic, sales and overall interest in the consumer electronics space," Loop Capital Markets analyst Anthony Chukumba said in an interview with TheStreet on Tuesday.
Speaking about Best Buy specifically, Chukumba said should customers go to a store to buy the iPhone X, rumored to cost $1,100, or any other model, they likely will spring for additional impulse purchases. Perhaps, a case to protect the expensive phone.
"I haven't seen this much excitement around a new iPhone since the iPhone 6 and 6 Plus," Chukumba added.
Apple released the 6 and 6 Plus models in September of 2014. It was the first time the tech titan launched two different sizes, the 4.7-inch and 5.5-inch screens.
For the fourth quarter of 2014, when people bought the 6 and 6 Plus for holiday gifts, Best Buy reported a 1.3% rise in revenue and a 2% same-store sales increase, compared to a 1.3% decline in 2013. The electronics retailer touted strong mobile phone sales as a "primary driver" of revenue growth that year.
Late Tuesday morning, Best Buy stock rallied 1.52%, Amazon stock was up 0.37%, AT&T stock popped 1.02% and Verizon stock climbed 0.84%.
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