A GBH Insights analyst says Apple will become the first $1 trillion company within the next year as the iPhone X hits its “major upgrade cycle.” Analyst Daniel Ives says Apple shares could reach from $210 to $230 in the coming year.
He thinks the three iPhone models this year will surpass peak iPhone 6 sales for a total of 258 million units in the fiscal year ending in September. Ives foresees Apple’s average sales price rising from $643 in fiscal year 2017 to $746 in fiscal year 2018 due to the higher cost of the iPhone X.
What’s more, the analyst sees China sales improvements as another growth driver. He estimates about 50 million iPhone users in the country will need an update within about a year.