Wall Street analysts update APPL stock price after Apple event

Core Viewpoint - Apple's recent product launch has led to positive adjustments from Wall Street, with analysts generally maintaining bullish sentiments despite a slight decline in stock price following the event [1][6]. Group 1: Analyst Reactions - BofA Securities raised its price target for Apple to $270 from $260, maintaining a 'Buy' rating, highlighting expected upgrades across the iPhone, Watch, and AirPods lines [3][6]. - UBS kept a 'Neutral' rating with a $220 price target, noting the transition from the underperforming "Plus" model to the new "Air" variant in the iPhone 17 lineup [7]. - Wedbush reiterated its 'Outperform' rating with a $270 target, emphasizing the upgrade potential among approximately 315 million iPhone users who have not updated their devices in over four years [7]. Group 2: Product Features and Innovations - Key highlights from the launch included new health features such as heart rate sensing, hypertension notifications, and sleep score tracking, along with AI-powered tools like live translation [4]. - Apple introduced new A19 and A19 Pro chips, C1X modem, and expanded neural accelerators aimed at enhancing on-device artificial intelligence capabilities [4][6]. Group 3: Pricing and Financial Estimates - The flagship iPhone 17 Pro starts at $1,099 for the 256GB version, compared to last year's $999 for the 128GB model, which has slightly increased BofA's financial estimates [5]. Group 4: Market Sentiment and Future Outlook - Investor focus is currently on Apple's ability to leverage its new product lineup and AI-driven features, with expectations that this will lead to a price rally [8]. - Historically, Apple's stock has shown a tendency to rebound within 30 to 60 days following product launches, despite short-term fluctuations [6].