Fear not the iPhone, says Credit Suisse.
Barron’s noted that Apple, the tech giant behind the ubiquitous phone, has seen some cuts to estimates on The Street. But one sell-side shop, Credit Suisse, has a sanguine outlook for the future of the newest model of the phone.
On Tuesday (Dec. 6), analyst Kulbinder Garcha said that there is robust demand for the phone, with “record shipments” in the offing. The firm kept its outperform rating on the shares, along with its $150 price target. The projections from Credit Suisse state that builds in the current quarter should be 87 million units. The iPhone 7 Plus continues to see strong builds, said the analyst, with projections of 45 percent of the mix, which is more than the 35 percent seen at present. But Garcha said he is “looking forward to the iPhone 8 super cycle,” as that phone debuts, ostensibly, next year.
And even as other analysts see concerns over Apple’s success in sourcing enough components to satisfy production demands, Garcha stated that there could different product strategies: 1) two iPhones, both OLED; 2) three iPhones, one OLED; or 3) three iPhones, all OLED.
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