The appearance changes in Apple (AAPL.US)'s newly launched iPhone 17, iPhone Air, iPhone 17 Pro and iPhone 17 Pro Max were in line with expectations, but storage options and pricing came as a surprise, Goldman Sachs released a research report saying.
The broker anticipated these factors to support continued growth in the average selling price (ASP) of products. Goldman Sachs kept rating at Buy on Apple, with an unchanged target price of US$266.
Apple's growing installed base, long-term service growth and new product innovation should sufficiently offset headwinds from the product revenue cycle, Goldman Sachs added.
The broker believed that market concerns over slowing product revenue growth may obscure the strength of Apple's ecosystem and the sustainability and visibility of related revenues.
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AAStocks Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| APPLE (C) |
10758 |
243 (-) |
0.249 |
6.6 X |
| APPLE (C) |
10614 |
236 (-) |
0.061 |
19.8 X |
| APPLE (P) |
10793 |
210 (-) |
0.212 |
5.1 X |
| APPLE (P) |
10678 |
170 (-) |
0.026 |
9.4 X |
