Is Apple (NASDAQ:AAPL) looking overvalued right now? The $1 trillion mark is drawing increasingly closer as AAPL trades at record highs of over $163. The stock is building momentum ahead of the launch of the much-hyped iPhone 8 model. The Wall Street Journal has now reported that the date of the launch has been scheduled for September 12. According to people familiar with the matter, Apple will launch a product-announcement event on this date. The event will feature the iPhone 8 as well as two updated versions of the current iPhone 7.
Fresh design leaks suggest that we are looking at the biggest iPhone redesign in almost a decade. We can expect some major changes including the removal of the main home screen button, a taller rounder OLED screen, a new software bar and wireless charging. Apple could use wireless charging pads that create an electromagnetic field where the current flows between the surface and the phone placed on it.
Also look out for: a huge price hike ($900-$1,200 plus tax), and a cutout at the top of the screen for the earpiece, facial recognition sensor, and selfie camera. However it now seems unlikely that the screen will be curved (a la Samsung) but will instead stay flat like former iPhone models.
“The color reproduction of the OLED screen means that when the display shows black, it blends in nearly perfectly with the phone’s notch and thin black edges on the front, presenting a seamless look, according to the people familiar with the product” reports Bloomberg.
Research firm IDC has also helped build excitement with its release of a bullish estimates for the new phones. IDC says it expects iPhone shipments to reach 9.1% in 2018 following the release of iPhone 8, 7S and 7S Plus models. According to the research firm, this will be the biggest iPhone shipment growth for the last 2 years. Similarly, Canaccord Genuity’s Michael Walkley says “Our surveys indicate strong consumer interest in and anticipation for new iPhones anticipated to launch in September.” He has a buy rating and bullish $180 price target on the stock.
