Analyst sees no supercycle for Apple, but predicts strong iPhone X sales

Raymond James' Apple analyst Tavis McCourt wrote a note to clients today. In his message, McCourt stated that the big supercycle that was supposed to pump up Apple's revenue and profits thanks to the new innovative 2017 iPhone models, might not take place. But thanks to what he sees as strong Apple iPhone X demand, the analyst expects Apple to report higher earnings next year as the average selling price of the iPhone rises as much as 10% in 2018.

McCourt's note includes some data not favorable to Apple. He says that 37% of iPhone owners plan to upgrade to a 2017 iPhone over the next 12 ...