iPhone 8 Release Date Delay: Analyst Says To Stop Worrying About Launch Rumors

Numerous reports have pointed to a delayed iPhone 8 release date, and one analyst is telling experts to “quit worrying” about it, according to a note to investors seen by Apple Insider.

The analyst, Robert Cihra from Guggenheim, called for others to calm down in the note saying iPhone fans will wait for the 10th anniversary device. He said consumers are not likely to switch to another device or another smartphone vendor entirely if the iPhone 8 isn’t released on time.

Read: iPhone 8 Final Design: Power Button Might Double As Touch ID Fingerprint Sensor

Cihra predicted that if the iPhone 8 release date is set back, the “short lived” delay will not impact stock. Instead the bottled-up demand will be pushed to the beginning of the 2018 fiscal year and extend past the holiday shopping season, he said. Guggenheim claims that about 40 percent of the current iPhone install base, which surpasses 700 million, is set to upgrade.

The analyst sees a good future for Apple. Cihra believes the 2018 fiscal year, and especially Apple’s holiday quarter, will be “its biggest in three years.”

The analyst also noted the iPhone 8’s high price will boost Apple’s average selling price. The iPhone is expected to cost more than $1,000, Goldman Sachs previously predicted. Cihra said the iPhone 8’s price could exceed the iPhone 7’s price by up to $400. The analyst said the steep price will not be something to worry about, pointing out that the first iPhone was seen as too expensive when it came out in 2007 priced at $400 with an AT&T contract requirement.

Due to rumors of a delayed iPhone 8, the firm cut its estimate for the quarter ending in September by $0.18 per share. However, Guggenheim increased the holiday quarter's earnings per share by $0.25.

Read: Samsung Galaxy Note 8 Vs. Apple iPhone 8: Release Dates Point Toward September Battle

Morgan Stanley also had good news for Apple, according to a Monday note written by analyst Katy Huberty seen by Business Insider. The firm said 2018 will be a great year for Apple stock.

Huberty said if the iPhone 8 is released in October none of the sales would be counted for the September quarter, which would fail to match up to Wall Street’s expectations. However, the delay could drive sales estimates for 2018 higher, which means Apple could have big December and March quarters. Morgan Stanley rated Apple stock as “buy” and raised its price target from $177 to $182.

In the note, the analyst predicted the iPhone 8 will be released in October.

"In light of the most meaningful feature and technology upgrades in iPhone's history — including OLED displays, wireless charging, and 3D sensors for AR — we believe it's reasonable to assume the new, higher-priced OLED iPhone ships in October rather than September," Huberty said.

Besides the OLED display, the iPhone 8, is rumored to come with an embedded Touch ID, a bezel-less screen, and a vertical dual-camera system.

The 10th anniversary iPhone could be called the iPhone X, iPhone Pro or iPhone Edition.