iPhone 17, iPhone 17 Pro, and the iPhone 17 Pro Max are said to be the popular Apple smartphones this year.
Morgan Stanley has reportedly predicted an increase in Apple’s stock prices
The iPhone 17 series is reportedly witnessing a “stronger than expected” demand from consumers, a report claimed on Thursday. Apple's latest flagship lineup comes with major improvements and design changes, and it appears to have appealed to the shoppers looking to upgrade their smartphones. However, the same cannot be said for the newest model introduced this year, the iPhone Air. As per the report, its reception in the market has been weaker than the rest of the models so far.
According to a MacRumors report, the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max are witnessing a strong early demand from consumers. The information reportedly comes from a research note from an analyst at the Morgan Stanley investment bank.
Citing analyst Erik Woodring, the report claimed that the three abovementioned models have seen a demand “modestly stronger than we originally expected.” The analyst's comments were reportedly based on information sourced from Apple's supply chain and extended shipping estimates on Apple's online store.
The note reportedly mentions that the demand for the three iPhone 17 models is likely to increase further, and the company could ask its supply chain to increase production to more than 90 million units. Currently, Apple is reportedly manufacturing between 84 and 86 million units.
Based on the bullish analysis, Morgan Stanley has reportedly increased the target price for Apple shares to $298 (roughly Rs. 26,457). However, the publication claims that other analysts differ with this estimate and believe the current stock price already reflects the strong growth. For the company to perform better, the market conditions need to be more favourable. As of writing this, Apple stocks were trading at $257.13 (roughly Rs. 22,800).
The report also claims that analysts have found the iPhone Air to be the worst performer in the lineup. The company's experiment with the slim form factor has reportedly not resonated with consumers, and its demand is said to be weak. However, it should be remembered that these assumptions are being made on the basis of shipping numbers, which could be affected by a number of variables.
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