Apple Inc. (NASDAQ:AAPL) unveiled its new iPhone 17 series as expected, but attention quickly focused on the debut of the slimmer iPhone Air, drawing strong reactions across Wall Street.
Overall, analysts praised the refreshed design and upgraded hardware, though opinions varied on whether the new lineup could trigger a major upgrade wave.
Evercore ISI suggested the iPhone Air might mark a pivotal moment for Apple. “The product is truly different from the rest of the line-up and could be a ‘MacBook Air’ moment for iPhones,” the analysts said, pointing to the $999 price point and longer battery life. The firm also increased its price target to $260 and maintained an Outperform rating, noting the potential for a “multi-year iPhone roadmap.”
Wedbush took a similarly optimistic view, describing the new models as the “spark for a new era at Apple.” Analysts highlighted that 315 million iPhone users have not upgraded in over four years, noting that the Air’s thin profile and Apple Intelligence features could drive a future super cycle.
Baird emphasized the role of carrier incentives, observing that “aggressive” trade-in values of up to $1,100 could encourage adoption. The firm cited “green shoots” in smartphone upgrades as the five-year anniversary of Apple’s 2021 cycle approaches.
Some firms were more cautious. HSBC kept a Hold rating with a $220 target, arguing that “hardware innovation is at every corner” while cautioning that Apple Intelligence is still falling short. “The only AI ‘awe-inspiring’ moment, in our view, was AirPods Pro 3’s live translation capabilities,” the analysts noted.
Jefferies and TD Cowen highlighted pricing factors, noting that blended iPhone prices are effectively up 3–4% due to higher storage tiers. Jefferies also cited regional complexities, including eSIM restrictions in China and Hong Kong.
In summary, the launch underscored Apple’s design ambitions but left the market divided over whether these innovations are sufficient to drive a broad upgrade cycle.
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