A financial analyst has shared his expectations for Apple and its upcoming iPhone 8, which could also be called iPhone Edition , iPhone X or simply iPhone for the 10th anniversary of the smartphone.
As reported by CNBC, investor Jeffrey Kvaal has predicted Apple’s stock price to rise from $150 to $165 based on the launch of the iPhone 8 “super cycle”.
Kvaal believes that Apple will ship 87 million iPhone units during the first quarter of 2018, which will start on October 1st of this year and reach its peak during the Christmas holidays.
Jeffrey Kvaal’s expectation of 87 million iPhone units is far higher than Wall Street’s expectation of 82 million units.
But the financial analyst wanted to go further, commenting that Apple will sell 260 million iPhones by the end of 2018 , a figure higher than the 239 million predicted from Wall Street.
To have more data to compare, Apple has sold 78 million iPhones during the first quarter of 2017, so an increase to 87 million units would represent an 11% increase.
In a research note sent to the rest of the investors, Kvaal attributes the iPhone 8 super cycle to the incredible demand for a new model. He explains that Wall Street is underestimating the demand based on the large current iPhone installation base.
Citi analysts recently raised their expectations for the company’s bitten apple stock price from $140 to $160 based on rumors about the iPhone 8, while Ming-Chi Kuo of KGI Securities said Apple’s new iPhone 8 would make a big impact on this year’s supply chain.
On the other hand, Kate Huberty of Morgan Stanley said she doesn’t think Wall Street has realized the great potential of iPhone 8.
Do you think the iPhone 8 will blow up the stock market on Wall Street? Will Apple’s shares go through the roof?