From a note to clients by RBC analyst Amit Daryanani that landed in my inbox Thursday:
Our recent survey work suggests there remains sizable pent up demand and excitement around the upcoming iPhone launch, which combined with the 700M+ iPhone install base with extended replacement cycles should yield in a supercycle for AAPL this fall.
Some of the highlights from our survey work were: 1) 2/3rd of the respondents would consider purchasing an iPhone, 2) Wireless charging is considered to be the most attractive feature and 3) ~60% of the folks that intend to upgrade the phone currently own iPhone 6 or 6s gen models.
Net/Net: We think AAPL remains ontrack to become the first company to achieve $1.0 trillion market cap (refer to 5/22 note for details) and AAPL should sustain an upside bias through and potentially beyond iPhone product launch this September.
Daryanani maintains his Outperform rating and raises his price target to $180 from $176.
My take: Wireless charging is a curious choice for most attractive feature.