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Pro Analysis

Buy Apple on iPhone 8 ‘super-cycle,’ India growth, Citi says

A customer buying an iPhone in New Delhi, India
Prashanth Vishwanathan | Bloomberg | Getty Images
A customer buying an iPhone in New Delhi, India

Investors should buy Apple shares because earnings will top Wall Street expectations next year due to iPhone 8 sales and growth in international markets, according to Citi Research, which reiterated its buy rating on the smartphone maker.

The firm is bullish on "Apple stock ahead of the iPhone 8 super-cycle, growth in margin accretive services, opportunity for growth in major countries like India, and potential tax reform," analyst Jim Suva wrote in a note to clients Friday.