Drexel Hamilton top analyst Brian White provides commentary on shares of Apple Inc. (NASDAQ:AAPL) after 97% of sales in the analyst’s Apple Monitor posted August sales showcasing a historically stellar performance.

In light of this and with positive expectations for the much-awaited iPhone 7 unveiling today and an expected iPhone 8 roll-out come 2017, White reiterates a Buy rating on AAPL with a price target of $185, which represents a 72% increase from where the shares last closed.

The analyst draws strong comparisons to the summer of 2013, anticipating this summer too will result in a “bottoming process” for the tech giant’s stock, which White deems to represent an attractive value.

“We believe today’s iPhone 7/7 Plus unveiling will provide for a solid upgrade for consumers but we are not anticipating a major change in form factor or aesthetics until iPhone 8 in 2017. The massive upgrade cycle with the iPhone 6 that drove 37% iPhone unit growth in FY:15, negatively impacted demand for the iPhone 6s. As a consequence, the upgrade rates with the iPhone 6s were muted and we are projecting a 9% YoY decline in iPhone units in FY:16. We believe the iPhone unit cycle troughed in 2Q:FY16 and we expect iPhone unit growth to return in 2Q:FY17 with the iPhone 7 and growth for FY:17,” the analyst concludes.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, top five-star analyst Brian White has achieved a high ranking of #86 out of 4,147 analysts. White upholds a 61% success rate and realizes 9.0% in his annual returns. When recommending AAPL, White yields 19.4% in average profits on the stock.

TipRanks analytics demonstrate AAPL as a Strong Buy. Based on 34 analysts polled in the last 3 months, 31 rate a Buy on AAPL, 2 maintain a Hold, while 1 issues a Sell. The consensus price target stands at $126.39, marking a nearly 18% upside from where the stock is currently trading.