Apple (AAPL) will host its annual September product event this Monday, with things set to kick off at 1:00 pm Eastern time. The "Glowtime" event is expected to bring several major announcements from the tech giant, including the highly anticipated reveal of the iPhone 16 series.
For this year's event, technology information website Tom's Guide is watching for a long list of announcements. In addition to news on the iPhone 16, it is also anticipating the unveiling of the Apple Watch Series 10 and any updates to the company's Apple Intelligence generative artificial intelligence (AI) initiatives.
Technology blog TechRadar has similar expectations. Included in the things it is looking for are design changes, smart software tools and features for the new devices that are announced.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can livestream the Apple event on Apple's YouTube channel, on Apple.com and on the Apple TV app.
Wall Street says Apple's a Buy ahead of the event
Apple had a highly publicized rough start to 2024, but shares bottomed in mid-April and are now up 18% for the year to date on a total return basis (price change plus dividends. This positive price action is just more of the same for AAPL, which boasts an impressive 20-year return.
Unsurprisingly, Wall Street is overwhelmingly bullish toward the Dow Jones stock. Of the 46 analysts covering Apple tracked by S&P Global Market Intelligence, 25 say it's a Strong Buy, seven have it at Buy, 12 call it a Hold and two rate it a Sell. This works out to a consensus Buy recommendation and with high conviction.
Additionally, the average analyst target price for AAPL stock is $237.63, representing implied upside of over 7% to current levels.
Speaking for the bulls is financial services firm Wedbush, which has a Buy rating and $285 price target on the blue chip stock.
Wedbush analyst Daniel Ives believes the September Apple event "will kick off Cupertino's biggest upgrade cycle in its history with AI now on the doorstep." Ives adds that recent checks across the Asia supply chain indicate "that this iPhone upgrade cycle could be a historical one, setting the stage for a supercycle."
He estimates that around 300 million iPhones globally are overdue for an upgrade. "In our view, Apple could sell north of 240 million iPhone units in fiscal 2025 as this AI-driven upgrade cycle takes hold."
Related Content
- Apple's Strong Start in Virtual Reality
- Stock Picks That Billionaires Love
- The Best Large-Cap Stocks to Buy
-
Father’s Day 2025: These Popular Gifts Will Cost You More This YearTariffs Popular Father’s Day gift ideas like grills, clothing, and fishing gear are facing price hikes this year. Here's what to know before you shop.
-
Ask the Editor, June 13: Questions on Home Sales and TaxesIn our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on home sales and calculating tax basis in a home.
-
Four Ways to Help Prevent a Market Downturn From Scrambling Your Nest EggYou may not be able to avoid a market decline when you're newly retired and starting to rely on your nest egg for income, but you can plan for that risk.
-
Is Your Home Disaster-Ready? An Insurance Expert's Guide to Preparing for Storms and FiresHomeowners can take these steps to protect their properties from hurricanes, tornadoes, wildfires and hail, while also potentially reducing their insurance costs.
-
Stock Market Today: Stocks Rise as Treasury Yields DropA round of not-too-terrible economic data helped boost the bond market Thursday.
-
A Financial Adviser's Defense of Annuities: They're Just MisunderstoodAnnuities can offer retirement income stability and security against market volatility, though some do have drawbacks. The key is to understand their features before buying.
-
Diversification: An Investment Adviser's Guide to Why You Need It and How to Achieve ItHow confident are you that your money will go the distance? Building a balanced portfolio can shore up your investments' long-term stability.
-
How My Dad Taught Me the Compounding Returns of FatherhoodAs Father's Day approaches, I remember how my father's small acts of love and generosity added up over time and influenced my relationships with my own children, proving that the best investments can grow across generations.
-
Stock Market Today: Stocks Lose Steam After CPI, US-China Trade DealWall Street initially cheered soft inflation data and hopeful tariff news, but momentum stalled in late-day trading.
-
June Fed Meeting: Live Updates and CommentaryThe June Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. have to say about interest rates and the economy.
