We’re less than a week away from Apple’s introduction of the 2018 iPhones, and as is usually the case, analysts are coming out of the woodwork to express their bullish opinions on AAPL. Both Piper Jaffray and Goldman Sachs have published new investor notes on Apple, detailing the effects next week’s new iPhones will have on the company.
As noted by CNBC, Goldman Sachs has upped its price target on AAPL to $240, a significant increase compared to the $200 target the firm had previously placed on Apple. In a note to investors, Goldman explained that this increase comes as a sort of mea culpa as it previously been cautious on Apple due to uncertain demand for the iPhone X:
Because of the seemingly higher iPhone X demand, Goldman Sachs says it does not see Apple targeting the lower-end of the market with the 6.1-inch LCD iPhone set to be introduced next week. Instead, it predicts an $849 starting price – which is significantly higher than the $699 some have predicted.
Theoretically, this would then put the 5.8-inch iPhone Xs at around $949-$999, and the iPhone Xs Max above that.
Investors don’t always have the best track record when it comes to iPhone pricing, but nevertheless their supply chain-based estimates are generally worth noting.
“Apple is once again proving itself tough to bet against,” Hall added.
Meanwhile, MarketWatch reports that Piper Jaffray is equally as optimistic about Apple ahead of the new 2018 iPhones – raising its price target for the company from $218 to $250. The firm’s survey work shows that “nearly two thirds” of iPhones owners are using an iPhone that’s at least two years old, leading to significant upgrade demand:
Apple will hold its ‘Gather round’ event on September 12th.
