“Longtime Apple Inc. bull Piper Jaffray said Tuesday it expects the stock to continue to move higher in what it expects to be a ‘super-long cycle’ versus a ‘supercycle,'” Ciara Linnane reports for MarketWatch.
“Analysts led by Michael Olson said a survey of 400 iPhone buyers has bolstered their expectations for the mix of iPhones to be sold in fiscal 2018,” Linnane reports. “‘Specifically, we are modeling iPhone X to account for 38% of iPhones sold this year, essentially in-line with our survey at 35% of buyers intending to buy iPhone X,’ they wrote. ‘Our estimated mix of iPhone 8 in fiscal 2018 is 40% and our survey was exactly in-line at 40%.'”
“The survey supports Olson’s estimates for an average selling price of $720, revenue of $270.6 billion and per-share earnings of $11.17,” Linnane reports. “The current FactSet consensus is for fiscal 2018 revenue of $273.9 billion and EPS of $11.43.”
Read more in the full article here.
MacDailyNews Take: Better sustained excellence than shorter bursts and lulls.
Apple’s results for the 2017 holiday quarter are going to leave the maws of the hoi polloi agape!
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]