Report predicts about 50 percent of Note 7 buyers will move to iPhone 7

Prominent Apple analyst Ming-Chi Kuo of financial firm KGI Securities estimates that 5 to 7 million ex-Note 7 owners will switch over to the iPhone 7 and 7 Plus.

The report cites the obvious — loss of trust in the Samsung brand — while also mentioning that iOS and the dual camera of the 7 Plus will be major attractors bringing buyers across the iOS/Android divide.

Hardcore Samsung and Android loyalists might disagree that these incentives are compelling, but KGI states that the demographic it’s referring to has little loyalty to mobile brands, and will be easily swayed to due to past experience with the Apple brand.

In total, there were approximately 12 million Note 7 orders, and KGI expects Apple to take on about 50 percent of those buyers, with the rest split between various Android brands.

Though this report is largely speculative, many investors clearly feel similarly. Apple stock has risen over the past month, with KGI expecting to see further benefit coming to the company in the fourth quarter of 2016 and first quarter of 2017.

Apple will report earnings results on October 25th, 2016, revealing the results of the first round of iPhone 7 and 7 Plus sales.