What Analysts Think of Apple Stock Ahead of Wednesday’s Product Launch

Key Takeaways

With Apple (

AAPL

)
CEO Tim Cook
teasing a new product launch Wednesday, analysts have speculated a new lower-cost iPhone model could soon hit store shelves.

Cook didn’t specify what’s coming in his announcement post on X earlier this week, but analysts have previously speculated a new iPhone SE model could be unveiled in early 2025. Morgan Stanley said Tuesday it expects the
iPhone SE4
to start at $499 and come equipped with Apple Intelligence—which Cook has said is driving
record iPhone upgrades
.

Morgan Stanley maintained its “overweight” rating and $275 price target. Of the 16 analysts covering Apple tracked by Visible Alpha, nine have a “buy” or equivalent rating for the stock, compared to five “hold” ratings and two “sell” ratings. Their consensus price target is roughly $253, about a 4% premium over Friday’s close.

The product launch comes after Alibaba (

BABA

) Chair Joe Tsai said the Chinese e-commerce giant is
partnering with Apple
to bring artificial intelligence features to iPhones in China, according to a

CNBC

report

.

Earlier this week reports from

The Information

and

The Wall Street Journal

said Apple had submitted AI features developed with Alibaba to Chinese regulators for approval, a process that could take several months.

Shares of Apple rose 1.3% to close at $244.60 Friday and have added about a third of their value over the past 12 months.

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