The Apple Inc (NASDAQ: AAPL) stock price edged 0.34% higher ahead of the planned September keynote event scheduled for 10:00 a.m. Pacific time. The company is expected to reveal its lineup of iPhone 15s, its latest Apple Watch, and AirPods. The firm is also expected to announce some new software releases.
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As it has become the norm, Apple is expected to announce only incremental changes within its iPhone lineup, given the smartphone’s already advanced specifications. Still, the company has to do more to attract buyers of its phones as many current users may not feel the urge to upgrade their devices due to the minimal changes.
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The company is expected to unveil USD-C charging for its iPhones at today’s event to comply with European Union rules that require smartphones, tablets, digital cameras, portable speakers and other small devices to support USB-C charging by 2024.
There are numerous other improvements that the new iPhones are expected to feature, including Apple’s latest A17 chip – the first with 3-nanometer technology, on the Pro models, which should deliver faster processing and a longer-lasting battery.
Many analysts have issued new reports on Apple ahead of this big day, and here are some of their opinions. According to Jeffries analysts, the investment bank expects a “quiet” new product launch lacking in the “wow” factor from Apple when it announces the iPhone 15, which is in keeping with “recent history.”
Jeffries also noted that Apple’s history is a good thing,” as Apple has “been very consistent in its build quality, software updates, and market share gain.” The firm, which says Apple has also “consistently showed that incremental improvements are a fair trade for incremental price increases,” keeps a Buy rating and $220 price target on Apple ahead of the event.
JPMorgan lowered the firm’s price target on Apple to $230 from $235 on Friday, September 8, 2023, but kept an Overweight rating on the shares. The investment firm believes share price outperformance in the remainder of the year depends on beating “what are now low investor expectations” for the iPhone 15 launch.
However, the company’s outperformance this year will limit any future gains.
The Apple (AAPL) stock price.
The Apple stock price edged 0.34% higher to trade at $179.97 ahead of its annual keynote event.
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