In a note distributed to clients on Monday, Milunovich said that despite rumors of the iPhone costing over $1000, that would be the high-end price not the starting one. He also forecasted that the iPhone 8 would make up 45% of sales next year.
"Assuming that the OLED model constitutes 45% of sales, we estimate the [iPhone average selling price] could be $730 ($783 bull, $664 bear)," Milunovich wrote.
UBS has rated Apple as a 'buy' with an increased price target of $170.
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