Credit Suisse reportedly has urged savvy investors to buy Apple stock now because the iPhone 8 “super-cycle” is ahead.

Credit Suisse predicts the premium-priced iPhone 8 will drive earnings above expectations.

The company's shares are up 33 percent year-to-date through Monday compared with the S&P 500's 7 percent return in the same time period. CNBC reported.

"We remain convinced that the iPhone product cycle will be significant in terms of driving multi-year unit growth, and maintain our conviction on Apple's ability to introduce new higher pricing tiers with improved mix," analyst Kulbinder Garcha wrote in a note to clients entitled "8 Super-cycle – rising demand, rising price."

The analyst cited how the iPhone installed customer base has doubled to nearly 700 million users since 2013.  "Given this, as well as a high retention rate, we see the 8 Super-cycle will unleash pent-up demand," he wrote.

Garcha raised his fiscal 2018 Apple earnings-per-share estimate to $11.62 from $10.77 compared to the Wall Street consensus of $10.44. The analyst also reaffirmed his Apple price target of $170. Apple stock was trading at $153.90 early Tuesday.

"Apple has historically raised iPhone prices along with key updates," he wrote. "Given its affluent user base, a significant feature upgrade, limited price elasticity shown so far, as well as Samsung's higher pricing points of the Galaxy S8 devices, we believe our pricing assumptions could prove conservative at $670/$770/$900 for three tiers of the new phones."