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A recent investment update from Morgan Stanley highlights an unexpectedly strong start for iPhone 17 sales, according to their sources. Here’s what the report details.
Apple introduced several changes to its iPhone lineup this year, and early indicators suggest the new models are resonating well with consumers. Morgan Stanley has provided further evidence of the initial success in sales.
Sam Boughedda from Investing.com summarizes the key points: Morgan Stanley has increased its price target for Apple shares to $298 from $240, citing the robust early performance of the iPhone 17 cycle. The analysts note that the iPhone 17’s debut exceeds their initial expectations, with the market already pricing in some of this strength. However, they are optimistic about future growth, particularly regarding the upcoming iPhone 18 cycle.
While global demand for the iPhone Air remains somewhat uncertain—especially since it’s not yet available in China—the firm predicts a surge in orders for the other models: iPhone 17, 17 Pro, and 17 Pro Max, in the near future.
A visual of the entire iPhone 17 lineup underscores the diverse options available now. The early momentum has increased confidence within Morgan Stanley about the potential of next year’s iPhone 18. They believe that existing users needing upgrades, combined with the anticipated release of the first foldable iPhone and six fresh models next cycle, could sustain high single-digit year-over-year revenue growth into FY27. This projection is made without assuming any advancements in Apple’s AI capabilities for the upcoming year.
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