Since Apple’s (NASDAQ:AAPL) release of the iPhone 7 on Sept. 9, the stock has gained 6.78%. Year to date the stock is up 9.28%. Apple’s iPhone 7 sales have been a leading catalyst helping the stock to gain, and analysts are boosting their sales estimates helping to improve its outlook even more.
Apple announced on Sept. 15 the iPhone 7 Plus had sold out, and the iPhone 7 was also sold out in jet black. Credit Suisse increased its sales estimate for the iPhone to 215 million in 2016 and 221 million in 2017. Estimates are up from 208 million for 2016 and 217 million for 2017. At the newly estimated pace, annual unit sales growth for the iPhone would improve to -7%. Continue Reading »