Apple IPhone’s Average-Sales Price Above Expectations, Loop Says

By Ryan Vlastelica

(Bloomberg) —

Apple could benefit as average selling prices (ASPs) for the iPhone are tracking above consensus expectations, according to Loop Capital Markets.

• “Overall iPhone ASPs appears positioned to grow stronger than Street estimates” in 2022, even with the introduction of the lower-price iPhone SE, writes analyst John Donovan
• The popularity of higher-end Pro models is altering overall ASP dynamics, “potentially for the foreseeable future”
• According to Bloomberg Consensus estimates, Wall Street sees an average selling price of $837.43 for the iPhone product line in 2022
  • Loop calculates that the Street “may be 5% too low”
• Loop has a buy rating and $210 price target on Apple shares
• AAPL down 0.6% premarket