In what may be an odd twist for Apple (NASDAQ:AAPL) the release of the latest iPhone just got some fresh details attached to it. But oddly, this failed to bolster Apple’s stock price at all. In fact, Apple was down somewhat in Monday afternoon’s trading despite just how much a new iPhone likely means to Apple’s bottom line.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The latest reports note that the iPhone 15 will get a full sales launch somewhere around September 22. That’s a Friday, which should help improve sales, if only narrowly, as buyers will have all weekend to set up their new devices and check out all the little differences. Naturally, the phone won’t just drop into stores; Apple plans to have a launch event a week beforehand, somewhere around the 12th or the 13th. While the basic iPhone aesthetic likely won’t be much changed, there will be some new and worthwhile improvements. Perhaps the biggest will be the three nanometer A17 chip in the iPhone 15 Pro. That little measure is going to make the iPhone 15 Pro the first smartphone powered by a three nanometer chip for a good while.
However, there will likely also be some issues with the newest launch. First, Apple has to beat its launch of the iPhone 14, which was marred by a supply chain nightmare and pandemic-related issues that kept sufficient models from coming out. Worse, Apple will be launching that new phone into what Apple CEO Tim Cook told CNBC would be a “tough” smartphone market. Considering the state of inflation right now, as well as still-rising prices for everyday staples, Apple might have a tough time convincing shoppers to give up their still-working previous iPhone in favor of the new variety.
Analysts, meanwhile, are mostly convinced Apple can do the job. With 22 Buy ratings and seven Hold, Apple stock is considered a Strong Buy by analyst consensus. Further, with an average price target of $208.99, Apple stock offers investors a 17.04% upside potential.
