"High Replacement Demand"... Target Stock Price Raised from $205 to $220
iPhone 15 Pro Price Expected to Increase by Up to $200
There is a forecast that Apple’s stock price will rise significantly due to the expected launch of the iPhone 15 this fall. It is explained that the demand for iPhone replacements is large, and a price increase is also anticipated, which will be reflected in Apple’s stock price.
On the 11th (local time), the U.S. economic media Business Insider reported that it had obtained a recent report from Dan Ives, a well-known technology stock analyst at Wedbush Securities. As a technology sector specialist analyst, he is a figure who exerts strong influence on Wall Street’s analysis of technology stocks such as Tesla and Apple.
Analyst Ives analyzed that there are about 250 million outdated iPhones, and that upgrades have not been made for at least the past four years. He then predicted that the iPhone 15 would stimulate this demand and encourage the purchase of new iPhones.
He also anticipated that Apple would raise the average selling price of the iPhone 15. He had previously mentioned internationally that a price increase was necessary before the launch of the iPhone 14 series, and in fact, due to the strong dollar, Apple raised the price of the iPhone 14 in some countries.
Analyst Ives estimated that the average selling price of the iPhone 15 would be set at around $925 (approximately 1.2 million KRW). This is more than $100 higher than the average selling price of new iPhone models over the past 18 months. For the iPhone 15 Pro, a price increase of up to $200 is expected.
Considering that the iPhone 14 Pro is sold at $999 and the iPhone 14 Pro Max at $1,099, the Chinese IT media GizChina reported, citing Analyst Ives, that the iPhone 15 Pro is expected to be sold at $1,199 and the iPhone 15 Ultra at $1,299.
Analyst Ives evaluated Apple’s stock price as relatively low. He raised Apple’s target stock price from $205 per share to $220 per share. Apple’s stock price closed at $180.96 on the 10th, up 0.22% from the previous day. Apple’s stock price has risen nearly 45% since the beginning of this year.
Analyst Ives forecasted that Apple’s market value will expand from the current $2.85?3.5 trillion range to $4 trillion within the next 18 to 24 months.
However, GizChina stated, “Despite Analyst Ives’s reputation, his information should be taken with caution,” adding, “Nothing is confirmed until Apple issues an official statement, including on pricing.”
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