Apple investors, don't worry. The stock will surge on the new iPhone upgrade plan, Piper Jaffray analyst Gene Munster said Friday.
"They're basically compressing the time it takes to upgrade. Right now, the average consumer upgrades their iPhones every 22 months, and these carriers are basically locking in consumers to upgrade on an annual basis," Munster told CNBC's "Squawk on the Street." "That incentive is going to get people to upgrade their phones more often, which is going to have a profound impact on Apple's numbers."