Apple unveiled its iPhone 17 lineup, featuring the new ultrathin iPhone Air, Watch Series 11, and AirPods Pro 3. The new products showcase Apple’s existing AI features, reinforcing its iOS ecosystem. Despite positive reception, Morningstar maintains a fair value estimate of $210 for Apple, expecting slower iPhone sales growth and moderate overvaluation.

The new products are set to launch on Sept. 19, with an expected seasonal revenue growth for Apple. Sales are projected to increase in the September and December quarters, driven by the new releases. Morningstar anticipates 5% annualized growth for iPhone revenue through fiscal 2029, citing growth headwinds from China and global consumer refresh cycles.

Read more at Morningstar: Apple’s New Air Model Is Attractive, but Unlikely To Spur Big Growth