Citi Research analyst Jim Suva says most customers go for higher capacity models rather than the base versions, which in turn increases the average selling price (ASP) for the Cupertino-based tech giant.
The analyst firm has thus increased its APPL price target from $230 to $265, emphasizing that Apple makes more money by selling the top iPhone XS configurations.
Memory prices have dropped earlier this year, and it’s estimated that Apple spends approximately $20 on a storage upgrade, whereas customers are required to pay $100 to increase the storage size of iPhone XS and iPhone XS Max.
“We increase our financial model primarily due to higher ASPs [average selling price] & stronger … (read more)
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