Shares of Apple’s common stock (NASDAQ: AAPL) closed at an all-time high of $162.80 apiece on Tuesday, prior to adding additional, per share gains during after hours trading, according to the latest report from CNBC News, which is based in part off bullish estimates from market research firm IDC.
In its latest research note, IDC analysts claimed they expect Apple to ship approximately 9.1% more iPhones throughout 2018 than it will this year — a generous estimate, representing the tech-giant’s largest, year-over-year surge in iPhone growth since the iPhone 6s back in 2015, IDC noted.
This time around, of course, the growth will instead be driven almost entirely by pent-up demand for Apple’s iPhone 8, iPhone 7s and iPhone 7s Plus handsets; particularly among users who’d be upgrading from much older, legacy iPhone models — some of which won’t even offer support for iOS 11.
Up, Up and Away
While Apple’s trillion-dollar future may seem brighter than ever before, according to some analysts, the company’s stock likely has even more room to run higher from its current peak. For instance, in an August 22nd research note, Canaccord Genuity analyst T. Michael Walkley cited that he expects there to be a strong interest among users in upgrading their iPhones over the next year or so; while, of course, noting that said growth will help “to drive record earnings.”
“Our surveys indicate strong consumer interest in and anticipation for new iPhones anticipated to launch in September,” IDC analysts said, citing its data which revealed there are approximately 635 million active iPhone devices in circulation.
Still, it’s difficult and far too early to tell just how well the iPhone 8 will perform. For starters, the device isn’t even out yet, and it’s already receiving backlash for allegedly being incredibly expensive. Certainly, the iPhone 8 won’t be the only pricey smartphone on the offering block this fall, but if Apple truly wants to sell as many of them as analysts have been predicting, then then company sure better hope that iPhone 8 is packed to the brim with drool-worthy features and specs to swoon the masses.