Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Apple shares rise, bolstered by reassuring broker comment on new iPhone models mix

Analysts at Piper Jaffray said they are "modelling iPhone X to account for 38% of iPhones sold this year, essentially in-line with our survey at 35% of buyers intending to buy iPhone X”
Apple iPhone X
The analysts added: “Our estimated mix of iPhone 8 in FY18 is 40% and our survey was exactly in-line at 40%"

Apple Inc (NASDAQ:AAPL) saw its shares rise in early trading on the first session of 2018, bolstered by some reassuring broker comment after recent falls amid concerns over demand for tech giant’s new iPhone models.

In a note to clients, analysts at Piper Jaffray reiterated an ‘outperform’ rating on Apple stock with an unchanged price target of US$200.

READ: Apple shares weak after Taiwan suppliers drop on report of slowdown in iPhone demand

After 20 minutes of New York trade, Apple shares were nearly 1% higher at US$170.69.

The broker’s analysts noted that a survey of 400 iPhone buyers has bolstered their expectations for the mix of iPhones to be sold in fiscal 2018.

"Specifically,” they said, “we are modelling iPhone X to account for 38% of iPhones sold this year, essentially in-line with our survey at 35% of buyers intending to buy iPhone X.”

The analysts said: “Our estimated mix of iPhone 8 in FY18 is 40% and our survey was exactly in-line at 40%."

They said the survey has given confidence that their estimates for average selling prices, revenue and EPS estimates are on track.

View full AAPL profile View Profile

Apple Timeline

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use