In a new investor note, Bank of America Research analyst Wamsi Mohani offered his market outlook ahead of the upcoming September 9 event, where the iPhone 17 lineup will be announced. Here’s what he said.
In his note, issued before today’s event confirmation, Mohani echoed a sentiment often raised by Apple watchers on the upcoming lineup:
“Some media reports and tech websites are highlighting Tues Sep 9th as a potential launch date for iPhone 17 (not official yet), with pre-orders starting Friday Sep 12th, and new iPhones reaching stores on Fri Sep 19th. We expect the main feature to be the launch of a slim iPhone (iPhone 17 Air) to replace the current Plus model. While prior form factor changes have driven a meaningfully higher next iPhone cycle, in our opinion, investor expectations for the benefit from a thin phone are more tempered.”
Despite the tempered expectations warning, Mohan reiterated the “Buy” rating on Apple stock, with a price target of $250.
That is higher than the recent target from Morgan Stanley ($235), although that forecast was issued a few days ahead of Apple’s latest quarterly results, and the recent Washington stunts.
Apple confirms September 9 event
As alluded to by Mohani, Apple confirmed today the “Awe dropping”, scheduled for September 9.
In the event, Apple is expected to announce the iPhone 17, iPhone 17 Air, iPhone 17 Pro and iPhone 17 Pro Max, Apple will also likely announce the Apple Watch Series 11 and Apple Watch Ultra 3, and possibly the AirPods Pro 3 and AirTag 2.
9to5Mac will be in attendance for hands-on coverage of everything announced.
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