Source: Golden Ten Data

Wade Bush analyst Ives is right$Apple (AAPL.US)$The stock is rated as “outperforming the market,” and the target price is $240.

Ives said in a report,The number of iPhone 15 pre-orders that began on Friday was far higher than the market's general expectations, while at the same time increasing the number of iPhone 14 pre-orders by about 10-12%.

The analyst said that the iPhone 15 Pro/Pro Max is more popular, with Pro Max performing particularly well in the US, China, India and parts of Europe. He said this bodes well for the average unit sales price (ASP) of mobile phones.He estimated that Apple's ASP would be in the range of $925, up about $100 from the past 12 months.

Ives also pointed out that the delivery/delivery time for the iPhone 15 Pro/Pro Max is nowIt has moved from the end of October to the beginning of November.The analyst also said,

“The iPhone 15 Pro Max looks to stand out in this cycle.”

He estimated that bookings in India increased by around 25% year over year, while China's bookings were even stronger.

“We believe market share will increase. Despite growing doubts from the outside world, Apple's iPhone 15 cycle in China will remain stable.” he added.

Ives said that Wade Bush's observation of the Asian supply chain this weekend has strengthened market confidence.That is, the number of iPhones shipped during the holiday season (fourth quarter) may be close to 90 million units.Carriers' promotions may help boost sales significantly.

For fiscal year 2024, analysts expect iPhone sales to reach 225 million units, and the average selling price will continue to rise.He added:

“This shows Apple's potential demand for the next iPhone release. The Bank estimates that out of 1.2 billion iPhone users worldwide, more than 250 million have not upgraded their phones in more than 4 years.”

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