Apple Stock (AAPL) Backed by Analysts Ahead of iPhone Launch Event

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks Analysts Are Backing Right Now. On September 2, JPMorgan analyst Samik Chatterjee reiterated an Overweight rating on the stock with a $255.00 price target. The rating affirmation comes as the tech giant gears up for the fall iPhone launch event.

According to the analysts, iPhone launch details are typically well-telegraphed by the supply chain but the upcoming event may still surprise investors in terms of hardware changes and pricing.

“That said, the first public look at the new line up of iPhones, that will be supported by incremental AI features through the year, can still hold some surprises in relation to hardware changes as well as pricing that can in the current macro set up for potential upsides, which however will only be modest in magnitude when compared to prior inflections or super cycles.”

The firm believes two aspects have the potential to drive upside for the next fiscal year. First is the launch of the iPhone Air with a slimmer form factor that may appeal to a broader-than-expected consumer demographic.

The second aspect is the pricing for iPhone Air and the rest of the lineup, believed to play a major role in China market demand considering smartphones priced under CNY 6,000 ($840 USD) qualify for a 15% discount there. If Apple keeps enough models in the lineup, it may boost sales driven by subsidy support.

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.