Apple (NASDAQ:AAPL) is gearing up for its September 9 “Awe-Dropping” event, where the company is expected to unveil the iPhone 17 lineup and refreshed Apple Watch models, signaling its next wave of hardware and AI innovation. Analysts see the launches, alongside major software updates and ecosystem growth, as key drivers of revenue acceleration through fiscal 2026.
Goldman Sachs analyst Michael Ng reiterated a Buy rating on Apple with a $266 price forecast, projecting continued growth driven by new hardware, AI integration, and ecosystem expansion.
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The IPhone 17: A Game Changer In Revenue Growth
He expects Apple’s upcoming product launches, particularly the iPhone 17 series, to sustain momentum through fiscal 2026 despite historically muted stock moves around September events.
Ng highlighted key changes in the iPhone 17 lineup, including the debut of a thinner and lighter “Air” model to replace the Plus variant, a larger screen for the base model, and Apple’s new A19 chips with more RAM to support AI features, such as a more advanced Siri, in 2026. The Pro and Pro Max models will use A19 Pro chips, and all models will feature an upgraded 24MP front camera, doubling resolution from the iPhone 16 series.
Pricing strategy changes could also lift average selling prices. Ng expects Apple to eliminate the $999 128GB Pro model, raising its entry storage and price to 256GB at $1,099, while keeping base and Pro Max models at $799 and $1,199. The iPhone 17 Air is projected at $899, similar to the iPhone 16 Plus, but with a slimmer design and a single-lens rear camera.
Ng forecasts iPhone revenue growth of 5% year over year in fiscal 2025, accelerating to 7% in fiscal 2026, citing strong upgrade demand from users with older devices or models lacking Apple Intelligence support. He sees premium adoption, larger displays, and AI-readiness as key drivers.
The analyst also expects Apple to refresh its wearables lineup with the Apple Watch Series 11, SE 3, and Ultra 3, featuring larger displays, satellite connectivity, and 5G compatibility, with pricing in line with prior generations. Alongside the iPhone launch, Apple will release iOS 26, introducing a redesigned “Liquid Glass” interface, live translation, enhanced visual intelligence, call screening, and upgraded group chat features.
How AI Integration Is Shaping Apple’s Future
Ng emphasized that Apple’s strategy of combining AI-driven software with premium hardware will reinforce its revenue trajectory. Future launches, including M5 MacBook Pros, updated iPad Pros, and a potential AirPods Pro 3, are expected to strengthen growth further.
Goldman Sachs projects Apple’s fiscal 2025 revenue at $416.24 billion and earnings per share at $7.40, reflecting confidence in its ability to maintain its premium brand positioning and capitalize on its expanding ecosystem.
AAPL Price Action: Apple shares were up 0.11% at $229.56 at the time of publication on Wednesday, according to Benzinga Pro data.
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