Apple (AAPL) is gearing up for its highly anticipated “Awe Dropping” event on Tuesday, September 9. The spotlight will be on the iPhone 17 lineup, including a new ultra-slim “iPhone Air,” and updates to Apple Watch, AirPods, and possibly a refreshed Vision Pro headset. However, Wall Street is approaching the launch with cautious optimism.
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Apple stock often witnesses volatility around iPhone launch events, reflecting a “buy the rumor, sell the news” pattern. Currently, several analysts do not expect a major lift in share price after the launch. The new iPhone 17 Air has a fresh look, but without big AI or hardware upgrades, excitement is limited.
Analysts Reiterate Hold Ahead of the Event
The tech giant is expected to introduce a new, ultra-thin and lightweight iPhone 17 Air, which will likely replace the Plus model. Apple is under pressure to change its trajectory with the new iPhone 17 series after the iPhone 15 launch underperformed and iPhone 16 Pro models saw weak demand.
UBS analyst David Vogt said the thinner design is new, but is unlikely to significantly boost sales or change consumer behavior. He also noted that Apple’s recent software updates were minor, and major AI upgrades to Siri might not arrive until spring 2026.
Some investors are hoping for an AI partnership announcement, possibly with Alphabet’s (GOOGL) Google, but Vogt doubts it would have a meaningful impact on iPhone demand. He maintained a Hold rating and $220 price target on Apple stock.
Jefferies analyst Edison Lee echoed the cautious sentiment, raising his price target to $205.82 but sticking with a Hold rating. Lee cited concerns over market saturation, rising AI-related costs, and slow innovation, amid no clear signs of strong demand.
“We remain unexcited about iPhone 17 despite a positive US consumer survey,” Lee said. Also, the five-star analyst sees AAPL stock as expensive and warns that early demand in Q3 FY25 could lead to weaker sales in Q4.
Is Apple a Buy, Sell, or Hold?
Turning to Wall Street, AAPL stock has a Moderate Buy consensus rating based on 15 Buys, 12 Holds, and one Sell assigned in the last three months. At $238.95, the average Apple stock price target implies a limited 0.45% upside potential.
