“Investors should buy Apple shares because the more expensive iPhone 8 launching later this year will drive earnings above expectations, according to Goldman Sachs, which reiterated its buy rating,” Tae Kim reports for CNBC.
“‘The first $1,000 iPhone can drive meaningful upside,’ analyst Simona Jankowski wrote in a note to clients Thursday,” Kim reports. “She raised her Apple price target to $170 from $164, representing 10 percent upside from Thursday’s close.”
“Jankowski expects the new iPhone 8 will offer premium features such as a 5.8-inch OLED display and 3-D sensing augmented reality technology,” Kim reports. “She predicts Apple will sell the 128 GB and 256 GB storage iPhone 8 models for $999 and $1,099, respectively, compared with the $749 price of the current 128 GB iPhone 7.”
Read more in the full article here.
MacDailyNews Take: iPhone ASPs are set to increase. Hopefully, given all of the new tech expected to be packed into these handsets, Apple will be able to maintain their very healthy iPhone margins.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]