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Apple's Tim Cook said hype around upcoming iPhone feels different than previous ones

  • Apple CEO Tim Cook said this iPhone cycle feels different
  • UBS analyst Steven Milunovich agrees
  • There's some uncertainty as to whether or not Apple will launch the high-end iPhone 8 in September

Speaking with CNBC's Josh Lipton after earnings on Tuesday, Apple CEO Tim Cook said he thinks the hype around this iPhone cycle feels different than in previous years.

Cook specifically addressed a question about whether or not iPhone sales performance was impacted by hype around a new model, and if the hype and pause in buying new iPhones felt different than it did for the iPhone 7 and iPhone 6.

"Yes. Yes," Cook replied.

"The noise or rapport, some rumors and so forth, are at a different frequency and volume than we've ever had before," Cook said. "And it's clear because I'm getting comments from different people that there is a pause. But despite that, I feel great about how we did."

This is important, because Wall Street seems to feel the same way, particularly when it comes to the new iPhones. It's still unclear as to whether or not Apple is going to release three new models at the same time, or if the most high-end option is delayed.

In a research note published Wednesday, UBS analyst Steven Milunovich said that there will be "some" iPhones in September — Apple's guidance of $49 billion to $52 billion suggests that much — but that Apple's most high-end model, rumored to be named the iPhone 8, won't be available at that time. "Our sources suggest a quick ramp in the Dec period," Milunovich said.

UBS bumped its 12-month price target for Apple from $170 to $180 and maintained its buy rating.

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