1 month ago
[$$] Apple to See China Unleash Demand for IPhones
Apple (AAPL:Nasdaq) By Maxim Group ($142.27, June 19, 2017) We are raising Apple’s fiscal 2018 revenue estimate to a Street high, but basing our new 12-month price target of $180, up from $171, on normalized earnings power of fiscal 2019. Based on survey data, we are raising our fiscal 2018 iPhone unit estimate by 19% to a unit year-over-year growth rate of 34% and raising our average selling price (ASP) by 4% to 4% year-over-year growth. The result is that we are raising our iPhone unit estimate by 24% and our overall Apple (AAPL) revenue estimate by 15% to $284.8 billion (up 28% year-over-year), 15% above our prior estimate of $247.2 billion.