Morgan Stanley’s Katy Huberty said that sales of the next iPhone will be higher than Wall Street’s estimates due to new technologies.
In an interview with CNBC Pro, Huberty expects the next iPhone will have significant advancements, including OLED, 3-D sensor, wireless charging, artificial intelligence and other advanced software technologies. The next iPhone is expected to be released in September.
The analyst also expects 20 percent unit growth for the iPhone in fiscal 2018. On Feb.21, She raised Apple target price to $154 from $150. Todd Gordon from TradingAnalysis.com is also bullish on the iPhone maker.
"So basically [Apple] did a huge selloff intraday, cleared out any selling stops, and then rallied all the way back up to the close...That's a sign of underlying strength...It looks like the selling interest has been exhausted through $137 and the buyers are ready to regain control through $140," Gordon said Monday on CNBC's “Trading Nation.”
Apple shares has risen 20 percent this year.