Apple Inc. AAPL 0.42% shares are down 6.8 percent in 2016 on fears that the global iPhone market may have finally reached its saturation point. Credit Suisse analyst Kulbinder Garcha couldn’t disagree more. According to Garcha, an upcoming iPhone 8 super-cycle could drive Apple’s share price more than 50 percent higher.

Credit Suisse anticipates a modest iPhone 7 cycle featuring a device with only incremental improvements over the previous model. However, Garcha predicts the iPhone 8 will feature several major technological leaps that will drive major buying.

Garcha predicts the iPhone 8 will include an OLED screen, full glass display, no home button, enhanced Taptic Engine, improved camera, and wireless charging.

“These features, coming potentially in September 2017 and even if just a Pro version of the device, should drive an accelerated replacement cycle and draw in new users and should result in mix improvements,” Garcha concludes.

Garcha concedes…

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