Apple has received another target price hike, this time from Goldman Sachs, who reiterated its buy rating for Apple and raises its price target to $170 from $164 and also expects the tech giant’s upcoming flagship iPhone 8, likely to be unveiled in September, to cost $1,000 USD, or $1372 CAD (at today’s exchange rate).
According to Goldman Sachs’ Simona Jankowski, Apple’s soon-to-be-released iPhone 8 (also rumoured to be named iPhone X) will mark the most anticipated iPhone launch since September 2014.
“We think the higher demand for the larger (5.8″) form factor will be supported by the fact that the iPhone 8 will have compelling new features not available in the smaller form factors,” wrote Jankowski.
“We expect the iPhone 8 to have 128 GB and 256 GB models priced at $999 and $1,099, respectively,” Jankowski and her team told their clients in a note seen by Business Insider.
The analyst expects the new iPhone 8 will offer premium features such as a 5.8 inch OLED display and 3D sensing augmented reality technology. She predicts Apple will sell the 128GB and 256GB storage iPhone 8 models for $999 USD and $1,099 USD respectively compared to the $749 USD price of the current 128GB iPhone 7.
As a result, Jankowski estimates fiscal 2018 iPhone average selling prices will rise 16 percent year-over-year to $763 USD versus the $675 USD Wall Street consensus. She raised her Apple fiscal 2018 earnings-per-share forecast to $11.50 from $11.00.
How much are you willing to spend on iPhone 8?