“Apple’s iPhone Product Cycle is ‘Alive and Well’ for 2018.” —GBH Insights’ Daniel Ives
From a note to clients that landed in my inbox Tuesday:
With Apple shares hitting all-time highs today and having a significant snap back from the dark lows we witnessed post December results/March guidance, we believe the Street is now starting to fully appreciate the massive iPhone upgrade opportunity on the horizon for FY18 with three new smart phones slated for release. Importantly we estimate Apple has roughly 350 million iPhones that are in the window of opportunity to upgrade over the next 12 to 18 months, now it’s about which model and price point “strike a chord” for these customers to ultimately upgrade as the iPhone X demand has softened since reaching a supply/balance level in late December.
Maintains Highly Attractive rating and $205 price target.
My take: Easy to say now that the stock has recovered.