A Goldman Sachs analyst recently explained why an iPhone 15 price increase might be justified. Analysts at US Bank also believe that the new iPhone range could drive Apple’s growth.
• iPhone 15 should be more expensive
• Goldman Sachs analyst: That’s why a price increase is justified
• Goldman Sachs: Apple will benefit from new iPhone series
iPhone 15: Most expensive iPhone ever?
The fact that there are plenty of rumors circulating before new Apple products are officially announced is nothing new. This is also the case with the expected iPhone 15. Even before the Apple keynote on September 12th, fans are speculating about new design elements and technical improvements. But there is also a lot of speculation about the price. As Investor’s Business Daily reports, leaked information suggests that Apple will release a total of four iPhone 15 models: a base model iPhone 15 with a 6.1-inch display and an iPhone 15 Plus with a 6.7-inch display. Display, with starting prices of 799 and 899 US dollars respectively. Apple will also offer Pro and Pro Max models in the same screen sizes, starting at $1,099 and $1,199 respectively. The basic and plus models would therefore be the same price compared to their respective predecessors. However, the Pro models would see a $100 price increase – the first in four years.
Price increase justified according to Goldman Sachs
However, according to Goldman Sachs analyst Michael Ng, a price increase by Apple is justified. The new Pro models would be significantly faster and more energy efficient thanks to A17 processors and the first chip on a 3-nanometer scale. They are also said to have new design improvements, such as a titanium frame, longer battery life and more memory, which would improve the models overall. The top model Pro Max should also have an improved camera with a periscope lens for better optical zoom function. “The iPhone Pro has not seen a price increase since its launch with the iPhone 11 Pro in September 2019,” the analyst said. The technological improvements in the upcoming Pro models are likely to lead to a further shift in the sales mix towards more expensive handsets, he explained.
iPhone 15 will drive Apple growth
According to AppleInsider, Goldman Sachs analysts also expect the upcoming iPhone 15 to drive the tech giant’s growth. Analysts predict that more and more users will upgrade with the new iPhone series. “With AAPL up 48 percent year-to-date driven entirely by diverse expansion, we recognize investors’ concerns about valuation and downside risks,” Goldman Sachs analysts said in July. However, they continue to believe that Apple’s growing established iPhone base is the basis for an increasing iPhone base monetization per user. Accordingly, Goldman Sachs analysts view Apple as a long-term earnings and free cash flow enhancer with a strong view of this growth, which supported a premium valuation.
According to TipRanks, Apple shares received a total of 30 reviews from Wall Street analysts in the past three months, 22 of which gave the shares a “Buy” rating, while 8 other analysts gave the stock a “Hold” rating. The average price target is $208.13, with a high forecast of $240.00 and a low forecast of $167.00. The average price target corresponds to an increase of 16.81 percent compared to the last price of Apple shares of 178.18 US dollars (as of the closing price on September 8, 2023).
Editorial team finanzen.net
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