Apple(US:AAPL) Zhi Tong Cai Jing·2025-09-11 00:41Core Viewpoint - The launch of the iPhone Air is seen as a foundation for next year's foldable model, potentially driving a stronger upgrade cycle for Apple [1] Group 1: Product Launch and Features - The iPhone Air is lightweight, portable, and durable, setting the stage for future innovations [1] - The iPhone Air has a maximum battery capacity of 27 hours, which is 3 hours less than the iPhone 17 base model, but this is considered better than expected given its thinner design [2] - The iPhone Air features an upgraded A19 Pro chip, exceeding previous expectations, and the iPhone 17 base model has improved rear cameras with two 48-megapixel lenses [2] Group 2: Analyst Ratings and Price Targets - Citigroup maintains a "Buy" rating for Apple with a target price of $245 [1] - Goldman Sachs also holds a "Buy" rating with a target price of $266, citing better-than-expected specifications for the new iPhone [1] - Wedbush reiterates an "Outperform" rating with a target price of $270, emphasizing the potential for a new wave of applications within Apple's ecosystem [2] Group 3: Market Opportunities - Approximately 315 million iPhone users have not upgraded their devices in the past four years, presenting a significant opportunity for Apple [2] - The Chinese market is highlighted as a key focus for Apple's growth strategy [2] - Apple is expected to experience a super growth cycle in the next 12 to 18 months, driven by improved product efficiency and innovative features [2]