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Expectations Increase For Apple's iPhone 8 Cycle; Nomura Lifts Price Target To $165

Expectations Increase For Apple's iPhone 8 Cycle; Nomura Lifts Price Target To $165

The iPhone frenzy is rising to feverish pitch, as iConic Apple Inc. (NASDAQ: AAPL) is working toward launching its 10th anniversary rendition of the smartphone. The clamor refuses to die down, despite the likely launch date still being five months away.

Raising Price Target

Even as customers and the Street wait on the product, sell-side analysts are working overtime, making educated and informed guesses on the product. In a note released on Friday, Nomura Securities raised its price target for Apple, citing its expectations for a stronger iPhone 8 cycle.

Launch Date, Pricing

Apple traditionally launches its product in the first or second week of September, so that it can capitalize on the holiday frenzy. Some reports suggest the launch date this time around could be pushed forward. Rumor has it Apple could choose a June 29 release date, the same day the first iPhone was launched ten years ago.

Dubbed the iPhone 8, this phone is considered to be a radically redesigned model, with several breakthrough features, including the curved OLED screen, incorporated in it. A report in the Fast Company indicated that the newest iPhone could cost over $1,000, given its design and feature intensiveness.

‘Super' Super Cycle

Analyst Jeffrey Kvaal said his analysis of App store data and recent Asia Tour insight fuel his conviction that the iPhone 8 super cycle could be significantly larger than consensus expectations.

Accordingly, the analyst raised the high-end of his estimates. The fiscal year 2018 earnings per share estimate is at $11.01. The analyst also raised his price target for Apple shares to $165, while remaining at Buy.

Related Links:

Goldman Sachs Sees Increased Likelihood The iPhone 8 Will Include AR Content

Apple Stock Ripe For Picking As iPhone 8 Cycle Looms

Analysts Respond To Apple's Mid-Cycle iPhone Refresh

Latest Ratings for AAPL

Dec 2019MaintainsOverweight
Nov 2019ReiteratesBuy
Nov 2019MaintainsOverweight

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