Apple’s highly anticipated iPhone 17 launch event generated significant buzz in the technology and finance worlds. Following the event, leading financial institutions and analysts announced that they had raised their price targets for Apple shares, reaffirming their confidence in the company’s future.
Artificial Intelligence and Pricing Power Highlighted
Bank of America (BofA) raised its stock price target for Apple from $260 to $270 and maintained its “Buy” recommendation. BofA analyst Wamsi Mohan stated that the new launches could position Apple as a “leader in delivering edge AI,” adding that the rising price of the Pro model also influenced this decision.
Redburn analyst James Cordwell argued that the launch confirmed Apple’s transformation into a hardware-focused company. Cordwell projected that iPhone revenue could grow 4% annually in fiscal 2026, raising his price target from $230 to $260.
Evercore analyst Amit Daryanani raised his target price for Apple’s stock from $250 to $260. He called the new iPhone Air a “showstopper,” specifically stating that the device, with its $999 price tag, could have a similar impact to the “MacBook Air moment” and trigger a new upgrade cycle.
Ben Reitzes of Melius set the most ambitious price target, raising Apple’s target price by $30 to $290. Reitzes stated that this increase was driven by increased confidence in the company’s Services segment and that Apple’s growth potential continues thanks to its 2.4 billion user base.
Some Institutions Take a Cautious Approach
While price targets have generally increased, some financial institutions have adopted a more cautious stance. UBS and HSBC maintained their $220 price targets and either “Hold” or “Neutral” recommendations on Apple stock. The UBS analyst emphasized that the increased starting storage in the base iPhone model means prices remain unchanged for the same storage configuration. HSBC, on the other hand, noted that the iPhone 17 series was not significantly different from expectations due to leaks, but that they were impressed by the thinness of the iPhone Air and the noise-canceling improvements in the AirPods.
In conclusion, while Apple’s iPhone 17 launch has generated mixed reviews in the financial world, the general consensus is that the company has strengthened its product line and maintained its future growth potential with its integration of artificial intelligence.
