Analyst: Apple’s iPhone supercycle morphs into a ‘super-long’ iPhone cycle
“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.'”
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.
