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Apple to see spike in sales on release of next iPhone, says Goldman

Tuesday, February 14, 2017 0:49
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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


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