Goldman Sachs admits it has gotten the iPhone X wrong and, thus, has gotten Apple all wrong this year.
Market analyst Rod Hall wrote in an investment note obtained by CNBC that “we had expected worse iPhone X demand and some pullback in the stock — clearly neither of these two things happened.”
During each of the quarterly earnings calls since its launch, Apple CEO Tim Cook has told investors that the iPhone X was the best-seller of all the company’s mobile phones week by week. Despite what supply chain sources have said about iPhone X production, that gave every from index fund managers to casual betmakers confidence to buy into AAPL and that has launched its price up 28 percent year-to-date to $221. Hall is now targeting $240 by the end of the year.
As to the future? Goldman has now pinned an $849 price (with “flexibility down to $800”) for the standard 6.1-inch LCD iPhone expected to be announced September 12. The analyst neglected to comment on potential prices for two other rumored iPhone models with OLED screens.
That forecast goes against a recent leak suggesting that prices from the iPhone 8 ($699), iPhone 8 Plus ($799) and iPhone X ($999) will translate over to what might be called the iPhone (2018), the iPhone XS and the iPhone XS Max. Renowned Apple analyst Ming-chi Kuo of TF International has also kept his rangse centered around the same price points, though he hasn’t put specific numbers to the three models.