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Pro Analysis

Buy Apple on better iPhone demand, Credit Suisse says

iPhone 7
Mark Neuling | CNBC
iPhone 7

Investors should buy Apple shares because iPhone 7 sales will top expectations, according to Credit Suisse, which reiterated its outperform rating.

"In conjunction with a report put out by our tech team in Japan today around iPhone builds, recent announcements from TMobile and Sprint and our proprietary iPhone survey, we believe a number of recent data points suggest a better than expected iPhone 7 cycle, in both volume and mix," analyst Kulbinder Garcha wrote in a note to clients Thursday.

"Additionally, our conversations with display suppliers support our iPhone 8 super cycle thesis."