Forget the iPhone 17 – iPhone 18 demand prompts Morgan Stanley to hike AAPL target to $298

While saying the iPhone 17 upgrade cycle is only modestly more than predicted, Morgan Stanley sees promising signs for the iPhone 18 and has raised its target price to $298.

iPhone 17 Pro Max

Back in March 2025, the investment bank cut its price down to $252 because of fears that upgrades to the iPhone 17 range would be low. Now in a note to investors seen by AppleInsider, its analysts are saying that it is seeing higher upgrades than predicted — and believes more is to come.

Specifically, its industry checks suggest that while the supply chain hasn’t yet increased iPhone production, it will do so imminently. Details from multiple suppliers suggests that in the remaining months of 2025, Apple will increase its iPhone 17 order from 84-86 million, to something in the low 90 millions.

Continue Reading on AppleInsider | Discuss on our Forums

About The Author

Syndication

See author's posts