iPhone 17 exceeds expectations

iPhone 17 Pro Max. Photo: The Verge .

According to data from investment bank Morgan Stanley, the iPhone 17 series recorded higher-than-expected sales after 2 weeks on shelves.

Launched by Apple on September 9, the iPhone 17 Pro significantly upgrades the processor chip, camera and design. Meanwhile, the standard iPhone 17 has a 120 Hz screen and an improved selfie camera compared to its predecessor.

According to Investing.com , Morgan Stanley raised its target price for Apple's stock from $240 to $298 on October 2. The reason comes from a stronger-than-expected iPhone 17 upgrade cycle.

Apple stock is rated overweight, forecast to outperform the industry/market over the next 12-18 months. Investors are recommended to increase the allocation of overweight stocks in their portfolios.

“The iPhone 17 cycle was a little stronger than we had forecast. While this was clearly reflected in the market, we still see a positive trend over the past 12 months.

“High demand for iPhone 17 also gives us high expectations for next year's iPhone 18 cycle,” analysts from Morgan Stanley said.

Earlier in mid-September, analyst Ming-Chi Kuo claimed that demand for the iPhone 17 series was quite strong, with pre-orders surpassing the iPhone 16 based on production and fast delivery times.

“In terms of total production volume in the third quarter, the iPhone 17 series is about 25% higher than the iPhone 16 series in the same period last year, but the delivery period is only one week, indicating stronger pre-order demand for the three models,” Kuo emphasized.

By model, the strongest demand still belongs to the iPhone 17 Pro Max. In the third quarter, the device production was about 60% higher than its predecessor but the delivery time was similar.

In contrast to the iPhone 17 series, analysts have not been able to determine specific demand for the iPhone Air globally, especially since this model has not been distributed in China.

“The novelty of the new model means it is not yet possible to assess its popularity based on initial demand, partly because Apple does not have a product positioned similarly to the iPhone Air,” Kuo emphasized.

Morgan Stanley predicts that sales of the iPhone 17, 17 Pro, and 17 Pro Max will increase soon. This leads to optimistic predictions for the iPhone 18. One of the reasons is the increasing number of older models.

“Older iPhone users need to upgrade, combined with foldable iPhones and six new iPhone models in the next cycle.

These factors could lead to single-digit year-over-year iPhone sales growth, a trend that could continue into fiscal 2027, even without our view on Apple’s AI strategy,” the analysts said.

Apple is expected to release its next quarterly financial report in late October, which is when the tech world will have a clearer view of iPhone 17 sales.

Source: https://znews.vn/iphone-17-vuot-ky-vong-post1590416.html