On Tuesday Fortune says Gene Munster issued a note late Monday looking at how well things are going for Apple's iPhone instalment plan. By his calculations are going well, very well, better than he'd expected according to the report.
Munster had thought that 15% of new iPhone customers would go over the lease plan however his survey of 188 iPhone 6S buyers last month showed 37% of people going for Apples installment thing by the end of the quarter which end in a couple weeks
He thinks that adoption rate could be up to 50% and Apple sporadically doubling iPhone sales right? Or it could for those people.
The lease program allows people to upgrade every 12 months which means it would be easier for people to get a new iPhone every year something a lot of them would likely want to do. Between that and the push in emerging markets are we sure that we've hit peak iPhone?
I mean we all know that's coming it has to happen at some point but we sure it's happening this year?
Piper Jaffray has an overweight rating on Apple shares the firm's 12 month price target on the shares is $179. At the time of writing this article, Apple share price was $111.34