{"id":60355,"date":"2023-09-13T07:12:26","date_gmt":"2023-09-13T11:12:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/apple-iphone-15-launch-fails-to-excite-investors-what-wall-street-is-saying\/"},"modified":"2023-09-13T07:12:29","modified_gmt":"2023-09-13T11:12:29","slug":"apple-iphone-15-launch-fails-to-excite-investors-what-wall-street-is-saying","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60355","title":{"rendered":"Apple iPhone 15 Launch Fails to Excite Investors. What Wall Street Is Saying."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000742799\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Apple<span>\u2019s<\/span><br \/>\n       long-awaited iPhone 15 launch left investors disappointed, and Wall Street doesn\u2019t seem enthused either.<\/p>\n<p>The world\u2019s most valuable company unveiled its new iPhone models Tuesday, and things went pretty much as expected. The one surprise was the lack of a price increase for the iPhone Pro, largely expected by analysts, although<br \/>\n        Apple<br \/>\n       did hike the starting price for Pro Max by $100.<\/p>\n<div class=\"paywall\">\n<p>Shares of Apple (ticker: AAPL), which fell 1.7% to $176.30 Tuesday, has climbed an average of 5% in the three months following an iPhone release, according to Dow Jones Market Data. In premarket trading Wednesday,<br \/>\n        Apple<br \/>\n       fell 0.4% to $176.66.<\/p>\n<p>D.A. Davidson analyst Tom Forte doesn\u2019t see that happening this time around. \u201cUnlike years past, we believe the company may not be able to rely on strong iPhone sales to drive its share price higher,\u201d he said in a note Wednesday.\u00a0<\/p>\n<p>Forte noted that management was guiding for revenue to decline in the September quarter despite the iPhone 15 release date of Sept. 22. He also cited the \u201cpotential for lackluster sales\u201d in China. He reiterated a Neutral rating and a price target of $180 on the stock.<\/p>\n<p>KeyBanc analysts, led by John Vinh, also saw the product launch as being \u201cslightly negative\u201d for the stock, but maintained an Overweight rating and a $200 price target.<\/p>\n<p>\u201cWe see the September event as a modest negative for<br \/>\n        Apple<br \/>\n       given a lack of expected price increase for the Pro model, features that lack a compelling motivation for consumers to upgrade, and modestly less aggressive promotions from carriers,\u201d they said.<\/p>\n<p>Evercore ISI analysts viewed the event as \u201cmildly disappointing,\u201d and said a price increase for the Pro would\u2019ve helped mitigate the impacts of Huawei\u2019s recently launched new smartphone.<\/p>\n<p>\u201cInvestors typically go into this event with relatively low expectations given it has been a long time since we have seen a major change to the iPhone design or functionality, but investors were hoping to see a $100 bump to the cost of the Pro, which would\u2019ve helped offset any potential headwinds from Huawei\u2019s Mate 60 Pro Launch,\u201d they said. They still have an Outperform rating on the stock, with a price target of $210.<\/p>\n<p>Not everyone saw the launch event in a negative light. Wedbush analyst Dan Ives said that no price increase for the iPhone 15 Pro was a surprise, but that the hike for the Pro Max was a \u201csmart strategic move.\u201d<\/p>\n<p>He expects a greater proportion of consumers to shift toward the Pro models from the basic model, in a 75% to 25% split, compared to the 60% to 40% seen in recent years\u2014a \u201cmajor tailwind\u201d for the company\u2019s average selling price.\u00a0\u00a0\u00a0<\/p>\n<p>\u201cWe believe the robust consumer product cycle continues globally for Cook &amp; Co. despite the noise, with the iPhone 15 giving Apple additional momentum heading into the all-important holiday season,\u201d Ives said. He maintained an Outperform rating on the stock with a $230 price target.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/apple-iphone-15-launch-stock-wall-street-d5a5ffe1?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple\u2019s long-awaited iPhone 15 launch left investors disappointed, and Wall Street doesn\u2019t seem enthused either. The world\u2019s most valuable company unveiled its new iPhone models Tuesday, and things went pretty much as expected. The one surprise was the lack of a price increase for the iPhone Pro, largely expected by analysts, although Apple did hike [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":60356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-60355","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apple iPhone 15 Launch Fails to Excite Investors. What Wall Street Is Saying. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Apple\u2019s long-awaited iPhone 15 launch left investors disappointed, and Wall Street doesn\u2019t seem enthused either. 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