Apple Inc. is finding ways to sharpen its business acumen in a bid to increase the sales of its iPhone, make more profits, increase investor confidence, and to watch its share price soar. Recent news after the release of the latest iPhone, iPad, and Apple TV among others is the iPhone Upgrade Program. Apple’s iPhone Upgrade program is being touted as the best way to own an iPhone. Analysts are bullish that the program will increase sales and propel Apple to become the first trillion dollar company.
Under the iPhone Upgrade Program, buyers get to make low monthly payments, spread over two years just like the usual carrier plans. Apple goes the extra mile by offering buyers a chance to get a new (latest) iPhone after one year. For $32.41/month, $36.58/month, or $40.75/month, buyers can own a 16GB, 64GB, or 128GB iPhone6S. A similar plan also exists for the iPhone 6S Plus.
Analysts are bullish on the iPhone Upgrade Program
Buyers are not under compulsion to purchase the iPhone 6S and iPhone 6S Plus from Apple; in fact, less than 20% of iPhone users buy their devices directly from Apple. However, analysts posit that the success of the program would be good for Apple, its stock, and its investors because its will provide a recurring revenue stream.
Analysts at are seeing a 70% upside potential in the value of Apple stock in a move that will give the firm a market cap of about $1.1 trillion. UBS has raised their price target on Apple from $150 per share to $200 per share and Steven Milunovich of USB in a note to clients said, “The iPhone Upgrade Program could be a big deal”.
Angelo Zino, an analyst at S&P Capital IQ is also running with the bulls in light of the iPhone Upgrade program. The analysts raised their rating on Apple from “Hold” to “Buy” as the firm unlocks new streams of income from iPhone buyers.
The analysts wrote, “Our upgrade primarily reflects (Apple’s) compelling valuation … our favorable view of leasing programs and other promotions by carriers and Apple and belief that downside to near term estimates now appear less likely.”
iPhone Upgrade Program helps Apple to maintain high margin
If you are looking for the best deals on iPhones, Apple is out to convince you that you’ll get the best value for money in the iPhone Upgrade Program. The firm offers hardware coverage and software support, coverage for accidental damage, and the phone is unlocked so that you get to choose your carrier.
In the final analysis, the cheapest iPhone 6S will still net Apple about $777.84 in two years at a time when most smartphone makers are slashing their prices to ignite sales.
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