“Shares of Apple are down 31 cents at $155.94, despite an upbeat note this morning from RBC Capital’s Amit Daryanani, who writes that higher prices for the iPhone will offset lower sales volume for the device the next couple years,” Tiernan Ray reports for Barron’s.
“What had been thought to be a ‘super cycle’ for the iPhone, writes Daryanani, is now a ‘super-long cycle’ as sales stretch out into coming quarters,” Ray reports. “Daryanani has an Outperform rating on Apple shares, and an $180 price target, takes his cue from recent rumors of further delays in the forthcoming iPhone X — analysts at Mizuho wrote last week that delays in production could dent the outlook for this quarter when Apple reports earnings on November 2nd.”
Ray reports, “Daryanani makes reference to a survey his firm commissioned earlier this month, which asked 4,196 individuals about their smartphone purchasing intentions. Among those who said they intend to buy an iPhone, ‘iPhone X was the most popular model among respondents of our survey with 28% of overall prospective buyers and 43% of prospective new generation iPhone buyers… looking to purchase an iPhone X.'”
Read more in the full article here.
MacDailyNews Take: The iPhone X shipping delays to come, we fear, are going to be a test of many a user’s patience. Not that most won’t wait – we’re perfectly happy with our iPhone 7 Plus units – but if shipping stretches into the realm of “over 6 weeks,” there’s going to be much bitching from unhappy campers.
Apple CEO Tim Cook: The ‘operations genius’ who never has enough products to sell at launch – October 23, 2017
Apple, Foxconn executives to meet amid iPhone X production strain; Facial recognition component issue persists, unlikely to be resolved soon – October 20, 2017
Ming-Chi Kuo: Apple will only have 2-3 million iPhone X units available at launch – October 20, 2017
You may not get your iPhone X until February or March 2018 – September 28, 2017
Apple’s latest iPhone X production woes blamed on Romeo and Juliet – September 27, 2017