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Apple Inc.
AAPL, + 0.67%
Shares rose 1.4% in trading on Monday morning and are nearing their peak of $ 229.67 in 52 weeks. Michael Olson, an analyst with Piper Jaffray, increased his estimates on Monday after his company conducted a survey on the intent to upgrade the iPhone. Piper Jaffray spoke to more than 700 current iPhone owners and asked them what iPhone they would choose if they were to perform the upgrade this year. The survey found that 39% of them would choose the iPhone XS Max or the iPhone XS, and the rest of the respondents said that they would choose one. iPhone XR, iPhone 7 or iPhone 8. Olson now expects the average selling price of Apple's iPhone to hit $ 770 during the 2019 fiscal year, up from its estimate previous $ 758. Apple shares have gained 49% in the last 12 months, while the Dow Jones Industrial Average
DJIA, + 0.73%
increased by 19%.
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