OLED screens, facial recognition software, wireless charging capabilities and augmented-reality features are just a handful of the technological advancements featured in the Apple, Inc. (Nasdaq: AAPL) iPhone 8, iPhone 8 Plus and iPhone X models.
However, a new Baird survey of iPhone users suggests Apple customers are much more excited about a more pragmatic advancement.
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When asked which feature is most exciting about the new iPhone models, nearly half (46 percent) of respondents chose the better battery. Upgraded camera (19 percent) and wireless charging (17 percent) were a distant second and third.
The survey also revealed high demand for the new devices, which is good news for iPhone average sales price and Apple’s earnings per share.
“Our latest Apple survey suggests strong interest for both iPhone 8 and X, with a higher skewing toward the newer models than in years past,” Baird analyst William Power says. “We believe that should boost ASP and raised our ASP and EPS forecasts modestly, though [they are] still below consensus.”
Power says iPhone X supply chain concerns may shift some iPhone sales from the fiscal first quarter of 2018 to the second and third quarters.
Among those surveyed, 21 percent said they plan on buying a new smartphone within the next three months, with 58 percent planning on purchasing an iPhone. The survey suggests customers are more enthusiastic about the new iPhones than they have been in the past. Among customers expecting to buy an iPhone, 77 percent plan to buy either an iPhone 8 or an iPhone X. Historically, only about 70 percent of iPhone buyers opt for the latest model.
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For long-term Apple investors, Baird presented respondents with a list of potential future Apple products and services. When asked which one Apple should pursue next, they chose an Apple car as their top pick.
Baird is now calling for iPhone ASP of $691 for the full 2018 fiscal year, up from previous projections of $665. In addition, Baird has raised its full-year EPS estimate from $9.85 to $10.24.
The firm maintains an “outperform” rating for Apple stock and has raised its price target to $175.
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New iPhone’s Most Popular Feature May Be Its Battery originally appeared on usnews.com