WEB DESK: Apple’s latest iPhone 17 lineup is off to a stronger start than many analysts expected, according to a new investment note from Morgan Stanley. The US-based firm said early sales momentum is fuelling optimism not only for the current generation but also for next year’s iPhone 18 launch.
Morgan Stanley raises Apple target
The report noted that Morgan Stanley has raised its price target for Apple shares to $298 from $240, citing robust demand for the new devices. Analysts described the iPhone 17 cycle as “modestly stronger” than first forecast and believe it could push sales estimates higher in the months ahead.
While the market has already priced in much of the excitement, the firm said the early strength is making it more bullish about the iPhone 18, which is expected to include Apple’s first foldable device along with six new models. “An ageing iPhone base in need of upgrades supports high-single digit revenue growth extending into FY27,” the note added, even before factoring in Apple’s artificial intelligence plans.
Demand uneven across models
Reports suggest that the iPhone 17 and 17 Pro are showing delivery lead times of two to three weeks in some markets, while the iPhone Air remains widely available and has yet to make its debut in China. Analysts believe Apple will increase production of its three main models soon.
Strong demand in Pakistan despite soaring prices
The popularity of the iPhone 17 has also reached Pakistan, where the phones are sold through importers and distributors such as Mercantile and Airlink, as there is no official Apple store in the country. Despite heavy taxes and costly PTA approvals that push the price of the top-end iPhone 17 Pro Max close to Rs900,000, demand remains surprisingly strong.
Retailers report that the refreshed rear design of the iPhone 17 has caught buyers’ attention, breaking away from a look that had stayed largely unchanged since the iPhone 11. The performance improvements compared to last year’s models have further added to its appeal.
In the first few days of availability, limited stock allowed some shopkeepers to charge well above market rates, but with official PTA-approved units now rolling out through distributors, prices are expected to stabilise. Even so, the iPhone remains out of reach for many lower-income buyers, but continues to enjoy strong demand from those willing to pay a premium.
Apple will release its next quarterly earnings report later in October, which will give a clearer picture of how the iPhone 17 is performing worldwide.