EXCLUSIVE: Apple Stock Could Benefit From Smartphone Upgrade Cycle, Poll Ranks Top Reason For Trade In (It's Not The Camera)

Smartphone makers like Apple Inc AAPL are hoping that consumers will trade in their phones for new ones in the next year, an item that could lock in additional revenue and higher margins.

A new Benzinga poll finds that the percentage of people who have upgraded their phones in the last 12 months is below 50%.

What Happened: Analysts highlight that users upgrading their Apple iPhones could help the technology giant boost its annual revenue after releasing the iPhone 16 in September 2024 and getting ready to release the iPhone 17 in the future.

Benzinga polled readers to find out where they stand in the upgrade cycle.

"Which of the following describes your smartphone currently?" Benzinga asked.

Here were the results:

• I own an iPhone and have not gotten a new phone in the last 12 months: 38%
• I own an iPhone and got a new phone in the last 12 months: 22%
• I own a different smartphone and have gotten a new phone in the last 12 months: 17%
• I own a different smartphone and have not gotten a new phone in the last 12 months: 15%
• I don't own a smartphone: 8%

The poll found that 53.5% of consumers have not upgraded their smartphones in more than 12 months, or an even higher percentage if stripping out the 8% who answered that they don't own a smartphone. The poll found that 38.6% of respondents have upgraded their smartphones in the last 12 months.

Another important finding in the poll was the strong brand power that Apple commands, with 60.4% of the users answering the question saying they own an iPhone.

Read Also: China Tariff De-Escalation Biggest Winners Include Tesla, Apple: ‘New Tech Highs Back On The Table Now For 2025’

Why It's Important: The fact that over 50% of users said they have not upgraded their smartphone in more than 12 months could bode well for Apple in the next iPhone release cycle.

Also potentially helping Apple would be the growth of AI features like Apple Intelligence with the iPhone 17. Apple Intelligence released in October 2024, a month after the iPhone 16 released.

While users could upgrade to experience Apple Intelligence, the full benefits of an upgrade cycle may not have been realized by Apple and could be hit with a new iPhone that comes standard with Apple Intelligence features.

Benzinga also asked users which feature is the most important when considering a phone upgrade.

"Which of the following is the most important reason to upgrade to a new phone?" Benzinga asked.

The results were:

• Old phone feels outdated: 28%
• Artificial intelligence features: 27%
• Better battery life: 26%
• Batter camera: 19%

The poll found that an outdated phone, which could mean a number of things, is the most important factor when considering an upgrade. Ranking second could be the key for Apple's future success with artificial intelligence features the second-most important reason to upgrade a smartphone.

The study was conducted by Benzinga from May 5, 2025, through May 9, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 316 adults.

Read Next:

• EXCLUSIVE: If Meta Is Forced To Divest Instagram, WhatsApp, Or Facebook, 43% Pick This Standout