Analyst now expects the low-priced 6.1-inch LCD Apple iPhone to be priced as high as $849
With the unveiling of the 2018 Apple iPhone models expected this coming Wednesday, the company will reportedly introduce three new devices including a lower-priced variant. This is the unit that should feature a 6.1-inch LCD display, no 3D Touch, and a lonely single camera lens on the back. According to Goldman Sachs analyst Rod Hall, the actual price of this handset will start at $849, $150 higher than some other Wall Street types are predicting. He says that Apple could have some wiggle room to bring the price down to $799.
This is the second analyst to come out and say that the model dubbed the "iPhone 9" could be priced at $799. Last week, Merrill Lynch's Wamsi Mohan also predicted that the 6.1-inch handset will cost $799. Mohan also is looking for the 5.8-inch iPhone Xs to be tagged at $999, and the 6.5-inch iPhone Xs Max to be priced at $1,049.
Goldman's Hall also admitted that the company was wrong with its summer pronouncement that sales of the Apple iPhone X were lower than expected. Goldman wasn't the only firm telling its clients that the tenth anniversary model was garnering disappointing sales. In fact, all of Wall Street was in "full panic mode" in relation to Apple back in April, just prior to the release of the company's fiscal second quarter earnings.
"We also take this opportunity to eat our hat somewhat on our cautious stance this Summer. We had expected worse iPhone X demand and some pullback in the stock — clearly neither of these two things happened."-Rod Hall, analyst, Goldman Sachs
But that report turned out to be better than expected, and Apple's shares turned on a dime. On August 2nd, Apple became the first U.S. public company to be worth $1 trillion.
source: CNBC
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