Apple Inc (NASDAQ: AAPL) will likely see an increase in iPhone sales, thanks to the rollout of 5G networks worldwide and the possibility of augmented/virtual reality glasses coming later this year, Bank of America said. Analyst Wamsi Mohan noted that as the world comes out of the pandemic, replacement cycles for smartphones are "re-normalizing," pointing out that a January 2022 survey found that 30% of respondents are likely to upgrade their phones every year, higher than the 23% in March 2020, but still below the 32% seen in December 2019.