Apple Inc.’s (NASDAQ:AAPL) target price has been raised to $150 from $133 by Goldman Sachs on expectations the next iPhone will deliver a “significant step up in innovation” from the previous two models.
The bank also raised its fiscal year 2018 estimates, saying it anticipates the iPhone 8 will have software enhancements such as 3D sensing technology that could lead to a spike in sales.
Goldman said the new technology, which uses digitally generated graphics, has the potential to become a “key differentiator” for the 10th anniversary iPhone.
“Following recent industry commentary, we are increasingly confident that the upcoming iPhone 8 will include AR [augmented reality] technology that represents a significant feature upgrade from prior iterations,” equity analyst Simona Jankowski wrote in a research note.
Story by ProactiveInvestors