- A GBH Insights analyst says Apple (NASDAQ:AAPL) will become the first $1T company within the next year as the iPhone X hits its supercycle.
- Analyst Daniel Ives says Apple shares could reach from $210 to $230 in the coming year
- Ives’ thinks the three iPhone models this year will surpass peak iPhone 6 sales for a total of 258M units in the fiscal year ending in September.
- Ives sees Apple’s ASP rising from $643 in FY17 to $746 in FY18 due to the higher cost of the iPhone X.
- The analyst sees China sales improvements as another growth driver and estimates about 50M iPhone users in the country will need an update within about a year.
- Apple’s most recent earnings report included the first positive results in China in six quarters.
- Apple shares are up 1.15%.
- Previously: Wells Fargo (NYSE:WFC) initiates Apple at Market Perform (Nov. 15)
- Now read: Apple's Growth Potential In China - Victor Dergunov's Idea Of The Month
Original article