Apple’s New iPhone Launch Takes Wall Street by Storm

Apple’s much-anticipated iPhone launch event transpired recently, triggering a flurry of reactions among Wall Street pundits, with the majority having positive outlooks. As tracked by Wccftech, five out of seven analysts increased Apple’s share price target, while the other two retained their previous projections. Despite not elevating the share rating, the general consensus was commendable acknowledgment of Apple’s strategic maneuvers rather than being completely captivated in accordance to the event’s headline.

Bank of America served the appetizer, with their analyst uplifting Apple’s share price target to $270 from $260, while maintaining a Buy rating on the tech giant’s stocks. According to him, the new unveilings could potentially position Apple at the forefront of delivering cutting-edge AI innovations. While the shares dipped post the event, he advised the investors not to misconstrue the situation as history has shown the stock recouping with a 30-60 days window post-event.

The higher price points assigned to the Pro models played a pivotal role in inducing Bank of America to boost Apple’s price forecast. With the Pro model featuring 256 GB storage starting at $1,099 – a noticeable increase from the 128GB model priced at $999 last year – it was clear that premium value is being assigned to the high-end variant.

Another industry insider validated Apple’s return to hardware-driven principles as evidenced by the iPhone 17 launch. This transition, combined with a robust product pipeline and the underrated persisting pricing power of the iPhone, provided a solid foundation for their bullish outlook. The analyst put forth that the design took center stage at the event and confidently predicted a 4% year-over-year iPhone revenue growth in Apple’s fiscal year 2026.

The propelling revenue growth led the analyst’s firm to modify its earnings per share estimates for Apple’s fiscal years 2026 and 2027 to $8.24 and $9.05, respectively. Consequently, they enhanced their share price target from $230 to $260. Although, they sustained their Neutral rating considering the prevailing 25x CY27 PE.

One investment bank had remarks on the effects of Apple’s decision to scrap the 128GB base configuration on its Bill of Materials. Noting that despite an increase in list price, the effective pricing remained untouched due to the changed storage configurations. However, it was admitted that if the Base and Pro Max models constitute two-thirds of the total sales, then a roughly 3.5% YoY uptick in pricing could be seen.

Even so, they stuck with their $220 price target and Neutral rating explaining that the 128G storage specification’s discontinuation in three models could raise the collective iPhone BOM by around 1.5% to 2.0%, offsetting some price uplift.

Yet another analyst persisted with the $220 share price target and a Hold rating for Apple stocks. While the iPhone 17 series matched market expectations, the exciting innovations and specifications that were leaked beforehand did not mitigate the overall impressive nature of the launch.

The thriving culture of hardware innovation was evident in every aspect of Apple’s iPhone event, with the remarkable thickness of the iPhone Air and the enhanced noise cancellation capabilities of the AirPods standing out as notable highlights.

An optimistic analyst upgraded Apple’s share price target from an earlier $250 to $260, tagging the stock with an Outperform rating. This was largely owing to the iPhone 17 lineup featuring significant design alterations across the board, going beyond just the iPhone Air. This could potentially trigger a major upgrade cycle among a certain section of iOS users.

Labeling the iPhone Air as a ‘showstopper’, the analyst noted how this device could mark a ‘MacBook Air’ moment for iPhones, primarily driven by its reasonable $999 price tag. Emphasizing on the higher price of the Pro iPhone 17 model due to increased storage, he finished off by saying that the much awaited iPhone Air could re-energize Apple’s user base and become a catalyst in their multi-year iPhone roadmap.

The ongoing narrative of the redefined share price targets continued with another analyst elevating Apple’s target to $290, from an earlier $260, while retaining a Buy rating. The optimism resulted from a higher FY27 earnings estimate of 30x reflecting their increased faith in Apple’s Services and reducing tariff risks.

In the analyst’s view, despite frustrating circumstances, Apple has not seen a downturn in share distribution and the rewards of patience are starting to manifest. Citing the recent iPhones as a proficient upgrade, the analyst highlighted Apple’s exemption from the harshest tariffs and a lucrative deal with Google involving more than $20 billion for Search placements, as two major cloud clearings.

The analyst stood by his $241 revised share price target while maintaining a Neutral rating on the stock. This enhanced target was based on a forward P/E ratio of 29x, proving yet again the resilient nature of their Apple model. In conclusion, despite a 1.5% closing drop following the event, Apple’s stock remained steady in premarket trading, indicating that the future seems bright.