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It hasn’t been long since Apple launched the latest iPhone 17 series, and it’s already gaining momentum. An analyst from Evercore ISI, Amit Daryanani, has shared his analysis, affirming that Apple will continue to perform well. He has reaffirmed an Outperform rating on Apple stock and set a price target of $260 per share. This suggests that the stock may climb even higher.
This optimism stems from the aggressive promotions being offered by major U.S. carriers during the first week of iPhone 17’s release, such as T-Mobile, AT&T, and Verizon. These telecom service providers are offering significant trade-in discounts for the iPhone 17 lineup, which can amount to up to $1,100. Although the discount is spread out over two to three years as monthly bill credits, it still makes the latest iPhone more affordable, especially for those who plan to stay with a carrier long-term.
AT&T offers these credits over 36 months, while T-Mobile does so over 24 months. Verizon follows a similar approach, which helps lock in customers with a consistent structure. According to Evercore, these aggressive trade-ins are gaining more attention and could bring in more upgrades and sales. This is why Daryanani reaffirmed an Outperform rating on Apple stock. The promotions have the potential to drive strong iPhone sales, as they appeal to both loyal users looking to upgrade and budget-conscious buyers who are attracted by the deals.
If these carrier promotions successfully drive demand as expected, it will demonstrate Apple’s ability to thrive in a competitive smartphone market.
