An analysis from Bank of America Merrill Lynch suggests that Apple sales will gather steam, thanks to people wanting to upgrade to iPhones - according to the results of a recent global survey of smartphone users.
Apple’s announcements of iPhoneXs and iPhone Xr spurred people’s interest in upgrading to an iPhone in recent months, according to Bank of America analyst Wamsi Mohan’s note to clients Tuesday. In the bank's survey, almost 91,000 smartphone consumers from March to September expressed their increasing interest for iPhone upgrades. Mohan’s note mentions that 33 percent of the respondents said they plan to upgrade to the iPhone versus 15 percent for Samsung. What’s more, 70 percent of iPhone owners said they will stick with Apple when buying their next phone. The Bank of America analysis indicates growth opportunities for Apple in India and China markets.
Mohan estimates that Apple’s fiscal 2019 earnings per share would be $14.41 versus the $13.62 Wall Street consensus.