Apple Has Canceled The Next iPhone SE, Top Analyst Says — And This Company Stands To Benefit Big

Apple Inc. (NASDAQ: AAPL) has instructed suppliers about canceling the 2024 iPhone SE 4, according to a top analyst of the Cupertino-based tech giant.

What Happened: Apple has given instructions to suppliers indicating that the production and shipment for the 2024 iPhone SE 4 have been "canceled rather than delayed," Apple analyst Ming-Chi Kuo said in a blog post, without citing any clear sources.

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The Tim Cook-led company initially planned to launch its baseband chip in the fourth-generation iPhone SE before bringing it to the iPhone 16. 

However, the cancellation of the 2024 iPhone SE 4 suggests that Apple will continue to rely on Qualcomm Inc. (NASDAQ: QCOM) for 5G chips in the coming year, including iPhone 16 series.

"The cancellation of the iPhone SE 4 has significantly increased the chances of Qualcomm remaining the exclusive supplier of baseband chips for the 2H24 new iPhone 16 series, which is better than the market consensus that Qualcomm will start losing iPhone orders in 2024," Kuo stated. 

Kuo previously said that Apple would cancel or postpone the mass production of iPhone SE 4 — likely due to the consistently lower-than-expected shipments of mid-to-low-end iPhones. 

The iPhone SE series is Apple's entry-level product range. It is largely considered the most inexpensive of iPhones. 

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