Apple Eyes New Growth With Extended Smartphone Replacement Cycle and Strategic Pricing: Analyst

Quick Summary:

Apple Inc (NASDAQ:AAPL) shares are trading higher after Needham analyst Laura Martin maintained a Buy rating and a $220 price target.

Some noted that Apple would raise prices on high-end smartphones and use that excess pricing to subsidize lower-cost iPhones to attract new consumers into the Apple ecosystem.

The most important valuation-related takeaways from Martin’s conversations included the fact that the smartphone replacement cycle is now closer to 36-40 months, up from about 24-30 months pre-COVID.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesGermanyIndia

Topics: Benzinga Expert Ideas Tech Analyst Color US0378331005 Briefs Price Target Why it's moving News Reiteration Stories That Matter Trading Ideas AAPL Movers Top Stories Analyst Ratings

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 17:41:41 (2 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 394 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21447116

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