Even with possible iPhone 8 OLED delays, Citi analyst Jim Suva expects demand to exceed supply for the 10th-anniversary smartphone causing him to reiterate his Buy rating and $160 price target on Apple Inc. (NASDAQ:AAPL).

Notable Comments

• “We expect demand to outstrip supply as customers await the 10-year anniversary OLED version of the phone,” said Suva.
• Suva expects volatility in the coming months, which he believes could create an attractive entry point to invest in Apple.
• Suva reduced September iPhone unit estimates to 40 million but increased December estimates to 89 million.