Sales of the iPhone didn’t meet all expectations last year as many iPhone fans didn’t upgrade to the new devices when they launched. There are many reasons for that to have happened and one of them is that the iPhone 7 wasn’t that compelling of an upgrade. Apple is rumored to be working on big things for the iPhone 8 and the new features are thought to be enough to lure many iPhone fans to update their devices finally.
Stifel has increased the 2017 and 2018 revenue and earnings per share estimates for Apple to reflect what it thinks will be stronger than expected sales of iPhone models reports MarketWatch. Analyst Aaron Rakers predicts that Apple shipments of iPhones will grow 4% to 224.7 million units in 2017. That is significant growth from the previously predicted 214.7 million iPhones shipped.
In 2018 the analyst predicts that iPhone 8 shipments will grow to a record 250.6 million units, a massive gain from the 230.5 million units predicted previously. In 2015 Apple set a record for iPhone shipments of 231 million units, that means at least one analyst is expecting Apple to set a new record for iPhone shipments next year.
Analysts are predicting that Apple will ship over 90 million iPhone 8 units in the first quarter after the launch of that device. That is a big gain compared to the last quarter of 2016 reflecting the launch of the iPhone 7. However, there are some analysts out there who think that expectations are too high and the expectation of a so-called super cycle for Apple iPhone sales has already been built into the price of the stock.