Wall Street Firms Expect Apple to Release Most Innovative iPhone Yet

The biggest consumer technology product event of the year will be held Tuesday.

Wall Street firms are giddy with optimism, predicting Apple will unveil the most innovative iPhone in years during the Sept. 12 session.

“We remain bullish on Apple and continue to be in the ‘supercycle’ camp on the next iPhone, as well as its ability to drive app sales. We expect the next iPhone to include innovations that will be clearly visible, marketable, and useful for the mass-market globally,” Macquarie Research’s Benjamin Schachter wrote in a note to clients Monday.

“We think that with expected innovations around AR [augmented reality], wireless charging, viewable screen size, OLED [display], and more, the next iPhone is clearly poised for its largest upgrade cycle yet.”

The smartphone maker is one of the market’s best-performing names so far this year. Its shares have rallied 39 percent year to date through Monday versus the S&P 500’s 11 percent return.

“This year’s September event is easily the most anticipated iPhone launch given expectations for the first major form factor change since the iPhone 6 cycle and excitement surrounding a host of revolutionary features/capabilities alongside evolutionary updates surrounding the flagship device,” RBC Capital Markets’ Amit Daryanani wrote in a note to clients Sunday. “Although expectations remain high, we think the event still has potential to surprise investors on the upside, particularly as some of the new iPhone features are demonstrated live.”

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Source: CNBC