Apple's Stock Price Projected to Keep Rising on 'iPhone 8' Optimism

iphone 8 mockupWhile a 5.8-inch iPhone with an OLED display is likely around six months away from being announced, the stock market is always looking ahead, and several analysts think the smartphone will be a hit among customers.

Accordingly, over the past month, several financial analysts have raised their price targets for Apple's stock to between $150 and $185, per research notes obtained by MacRumors.

Citi analyst Jim Suva, for instance, raised his Apple stock price target to $160 today. Likewise, BMO Capital Markets analyst Tim Long rose his target to $160 in late February.

Apple's stock has already been on an impressive run this year so far, closing at $139.34 on Monday, just cents off its record-breaking high of $139.79 set last week.

Long in particular said he expects Apple's trio of new iPhone models, presumably arriving this September, to drive the "biggest refresh cycle" since the iPhone 6 in 2014.

For the 2017 iPhone refresh, we expect some cannibalization by the premium model. While we expect like-for-like units to be 23 million lower, we model 34 million of unit volume from the new model. On balance, we estimate 11 million of incremental volume, the best launch since iPhone 6, though still less impactful. We believe this reflects conservatism in our estimates.

iPhone 6 and iPhone 6 Plus were runaway hits as Apple's first smartphones with screen sizes as large as Samsung's competing Galaxy smartphones, but the iPhone's overall look and feel has gone largely unchanged since those models were introduced three years ago, and iPhone sales declined for the first time ever last year.

The so-called "iPhone 8," or whatever Apple names its tenth-anniversary iPhone, will likely be something fresh and new, however, which Long expects could drive existing iPhone users to upgrade.

Long estimated that the number of iPhones in use was around 715 million, including 228 million second-hand devices, as of December 2016. Of the new models, he estimated 31% of the installed base will be 2 years or older at the time of Apple's presumed September launch event.

This larger than usual base of customers with older iPhone models has led analysts such as Morgan Stanley's Katy Huberty and UBS's Steven Milunovich to expect a "supercycle" of iPhone upgrades through next year.

Huberty recently raised her price target to $154, up from $150, but with an "overweight" rating. She expects the 5.8-inch iPhone's significant form factor change, and rumored features such as wireless charging, longer battery life, 3D sensors, and more advanced AI software capabilities, to drive the accelerated upgrade cycle.

Milunovich raised his price target to $151 in late February, up from $138, and he maintained a "buy" rating.

Huberty and Milunovich are far more conservative than Drexel Hamilton analyst Brian White, who has maintained a $185 price target since last year. "We continue to believe that Apple remains one of the most underappreciated stocks in the world," he said in a research note shared with investors in early February.

Guggenheim Securities analyst Robert Cihra reportedly raised his price target to $180, up from $150, last week.

Billionaire investor Warren Buffett of Berkshire Hathaway went on an Apple stock buying spree over the past few months, increasing his position in the iPhone maker to around 133 million shares prior to the company's record-breaking earnings results at the end of January. His holding has likely netted him several billions.

Tag: AAPL
Related Forum: iPhone

Popular Stories

iphone 16 pro ghost hand

5 Reasons to Skip This Year's iPhone 17 Pro

Thursday July 10, 2025 4:54 am PDT by
Apple will launch its new iPhone 17 series in two months, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive. If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
macbook pro blue green

M5 MacBook Pro No Longer Coming in 2025

Thursday July 10, 2025 12:38 pm PDT by
Apple does not plan to refresh any Macs with updated M5 chips in 2025, according to Bloomberg's Mark Gurman. Updated MacBook Air and MacBook Pro models are now planned for the first half of 2026. Gurman previously said that Apple would debut the M5 MacBook Pro models in late 2025, but his newest report suggests that Apple is "considering" pushing them back to 2026. Apple is now said to be...
iPhone 17 Pro in Hand Feature Lowgo

Leaker Reveals Amount of RAM in iPhone 17 Through iPhone 17 Pro Max

Wednesday July 9, 2025 8:08 am PDT by
Three out of four iPhone 17 models will feature more RAM than the equivalent iPhone 16 models, according to a new leak that aligns with previous rumors. The all-new iPhone 17 Air, the iPhone 17 Pro, and the iPhone 17 Pro Max will each be equipped with 12GB of RAM, according to Fixed Focus Digital, an account with more than two million followers on Chinese social media platform Weibo. The...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
Foldable iPhone 2023 Feature 1

Foldable iPhone Display Production Begins Ahead of Launch Next Year

Wednesday July 9, 2025 10:59 pm PDT by
Production of foldable OLED displays for Apple's first foldable iPhone have begun ahead of its expected launch next year, Korea's ETNews reports. The first foldable iPhone's displays are being produced by Samsung Display, who are establishing a production line dedicated to the upcoming Apple device its A3 factory in Asan, Chungcheongnam-do. The production line will make displays exclusively...
apple tv 4k new orange

New Apple TV Expected Later This Year With These New Features

Saturday July 12, 2025 3:09 pm PDT by
A new Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Rumors Faster Wi-Fi Support The next Apple TV will be equipped with Apple's own combined Wi-Fi and Bluetooth chip, according to Bloomberg's Mark Gurman. He said the chip supports ...
iphone 16 pro pro max

iPhone 17 Pro Models With BOE Displays Will Be Sold in China Only

Thursday July 10, 2025 11:59 pm PDT by
iPhone 17 Pro and iPhone 17 Pro Max models with displays made by BOE will be sold exclusively in China, according to a new report. Last week, it emerged that Chinese display manufacturer BOE was aggressively ramping up its OLED production capacity for future iPhone models as part of a plan to recapture a major role in Apple's supply chain. Now, tech news aggregator Jukan Choi reports...

Top Rated Comments

canadianreader Avatar
109 months ago
Half a trillion dollars company unable and unwilling to update its mac mini and mac pro for years.
Score: 11 Votes (Like | Disagree)
darksithpro Avatar
109 months ago
Us, iPhone users are like: OMFG OLED!

Android users be like: Welcome to 2012, n00bs.
Score: 10 Votes (Like | Disagree)
apolloa Avatar
109 months ago
I can see Cook having another Apple Watch moment when he announces the price... or when Schiller does..

and so the iPhone 8 starts with 32GB RAM available in all these countries, the 32GB is $1199 and the 128GB is $1299....

Then comes that awkward silence moment when the audience goes quiet just like the $12000 Apple Watch announcement.

Of course stocks will rise anyway, that's Cooks aim and what he does.
Score: 8 Votes (Like | Disagree)
I7guy Avatar
109 months ago
This iPhone is the biggest update since the original iPhone in 2007. Honestly they could have just updated to OLED and left it there as that in itself is a huge upgrade
Not really. I'd rather have the kind of functionality updates that Apple is famous for than a new screen technology that isn't mature.
Score: 7 Votes (Like | Disagree)
VirtualRain Avatar
109 months ago
The iPhone 8 probably has nothing to do with Apple's recent stock price. The Dow has set 32 record closing highs since the presidential election. All stocks are on the rise.
Score: 6 Votes (Like | Disagree)
rudychidiac Avatar
109 months ago
Can't wait to be extremely disappointed <3
Score: 6 Votes (Like | Disagree)