Apple (AAPL) will hold its “Awe Dropping” event on Tuesday, where UBS expects the company to announce the iPhone Air, which will replace the Plus model in the lineup, the analyst tells investors. While a thinner device would introduce a relatively new form factor for the iPhone, it is likely to have a muted impact on consumer purchasing decisions and limited upside to the firm’s iPhone forecasts for the September and December quarters, UBS says. The firm maintains a Neutral rating and $220 price target on Apple shares.
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