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
-
Stock Market Today: Stocks Are Mixed Before Liberation DayMarkets look forward to what comes with the reordering of 80-year-old global trade relationships.
-
Stagflation: What It Is and Why Retirees Should CareStagflation — the economic bogeyman of the 1970's — may return to the US. Here's what it could mean to your retirement.
-
Stock Market Today: It's the Old Up-Down Again on Liberation DayMarkets look forward to what comes with the reordering of 80-year-old global trade relationships.
-
Can a New Manager Cure Vanguard Health Care Fund?Vanguard Health Care Fund has assets of $40.5 billion but has been ailing in recent years. With a new manager in charge, what's the prognosis?
-
What You Don't Know About Annuities Can Hurt YouLack of awareness leads many to overlook these potent financial tools, and with the possibility of running out of money in retirement, that could really hurt.
-
Three Keys to Logical Investing When Markets Are VolatileFocusing on these market fundamentals can help investors stay grounded rather than being swayed by emotion or market hysteria.
-
Yes, the Markets Are Spooked, But You Don't Have to BeIt's human nature for investors to freak out in a downturn. But with a little discipline, you can overcome the urge to sell and stay focused on long-term goals.
-
Remembering Bogle: A New Standard for Municipal InvestingImprovements in technology, data, systematic trading and risk analytics have led to more successful municipal indexing.
-
Stock Market Today: Stocks Are Mixed Before Liberation DayMarkets are getting into the freewheeling rhythm of a second Trump administration.
-
How to Invest in SportsIf it's springtime, Forbes is out with its annual list of baseball franchise values. The billions involved might make you wonder how to invest in sports.
