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Apple iPhone average selling price will increase with iPhone 12

In a note to clients, Raymond James analyst Chris Caso said that the company’s production controls show that Apple has ordered more advanced iPhone 12 models than entry-level handsets, which should increase the iPhone’s average selling price (ASP). This in turn has led Caso to increase its price target on Apple shares.

Photo: iPhone 12 is reproduced (photo via svetapple.sk)
iPhone 12 rendered (image via svetapple.sk)

Patrick Seitz for Investor’s Business Daily:

“While our overall production estimates are in line with current consensus, we expect upside driven mix,” Caso said in a note to customers. “Current production plans suggest the most favorable mix we’ve ever seen for an iPhone launch.”

Caso reiterated its outperform rating on Apple stock, but raised its price target to $ 120 from $ 110.

He sees that Apple is benefiting from a two-year 5G upgrade cycle among iPhone owners.

His channel checks indicate that Apple will launch four new models in the iPhone 12 family. They want OLED screens from 5.4 inches to 6.7 inches. Starting prices are likely to range from $ 699 to $ 1,099, Caso said.

MacDailyNews Take: Is the AAPL now stabilizing after the huge run-up and starting to recover? All games are off during the last stretch of the US presidential election. But soon, let the perennial mother of all iPhone supercycles begin!

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