KeyBanc: iPhone price increases and reduced telecom promotions may suppress upgrade demand; price target for Apple at $250.

KeyBanc analyst Brandon Nispel noted in a report compiling an iPhone user survey that sales of the iPhone 18 after launch may fall short of Apple's expectations. Across the broader consumer base, higher prices, reduced carrier promotions, and existing devices already sufficient for daily needs will all dampen upgrade willingness, ultimately cooling sales. The firm has a $250 price target on Apple, about 27% below last Friday's closing price, with an "Underweight" rating.