Apple's iPhone 8 would burn a $1,000 sized hole in your pockets

Apple's iPhone 8 is likely to cost between $950 and $1,050 in the United States, Wall Street analyst suggests. Apple is likely to unveil the iPhone 8 around November. Check out the price

It has long been speculated that Apple’s upcoming smartphone iPhone 8 (wait was it iPhone X or iPhone Edition?) will be the costliest smartphone in the history of smartphones and it seems that our worst fears are about to come true. Wall Street analyst estimate that the phone is likely to cost around $1,000 in the United States.

The latest forecast comes from Goldman Sachs analyst Simona Jankowski, who believes that iPhone 8 will be available in two storage capacities– 128GB and 256GB, which will cost around $999 and $1,099 respectively.

“The first $1,000 iPhone can drive meaningful upside. The bottom line is that we are raising our FY18/19 EPS estimates further above consensus,” she wrote in a note to the clients, as obtained by CNBC.

Jankowski also said that Apple is likely to ditch the 32GB variant and 64GB variant of iPhone 8 this year and opt for manufacturing the devices with higher memory capacity only.

“We think the higher demand for the larger (5.8″) form factor will be supported by the fact that the iPhone 8 will have compelling new features not available in the smaller form factors,” the note said.

ALSO READ: New iPhone 8 leaks suggest contradictory reports and we are officially confused

Jankowski’s predictions are in total contrast to the predictions made by UBS analyst Steven Milunovich, who believes that the iPhone 8 will come in two memory variants– 64GB and 256GB each of which is likely to cost between $850-$900 and $950-$1,000 respectively.

At this point, it’s safe to say that even the analysts are equally confused about iPhone 8.

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Meanwhile, the word is that Apple is facing some issues in the hardware which could lead to a possible delay in the launch of the phone. The Cupertino-based company could launch iPhone 8 around November instead of sticking to its ages old tradition of going for a September launch.

Apple has been tight-lipped about iPhone 8 so far. But we hope that the company spills some beans at its Worldwide Developers Conference WWDC 2017, which is scheduled to take place between June 5 and June 9.