Apple is set to host a special event on Sept. 9 to launch the latest versions of iPhone, including the slimmer iPhone Air. The event may also see the launch of the latest Watch and AirPod. Additionally, Apple will release new software updates with features like Live Translation and improvements to visual intelligence.

Apple’s growing adoption of Apple Intelligence is boosting the company’s prospects, with record revenues driven by double-digit growth in iPhone, Mac, and Services. Despite facing competition in the AI domain, Apple’s strong performance in emerging markets like India and the Middle East is driving growth opportunities.

Apple expects Q4 revenues to grow in the mid to high-single digits, despite tariff threats impacting the company’s margins. The Zacks Consensus Estimate for Apple’s Q4 revenues is $100.8 billion, indicating a 6.19% growth over the year-ago quarter. The company’s stock is currently trading above the 50-day and 200-day moving averages.

While AAPL shares have appreciated 17.5% in the past month, the stock’s valuation is considered stretched with a forward P/S ratio of 8.28X. Investors holding AAPL shares may benefit from upcoming launches and Apple Intelligence features, but prospective investors are advised to wait for a more favorable entry point. Apple currently has a Zacks Rank #3 (Hold).

Read more at Nasdaq: Buy, Sell or Hold the Apple Stock Ahead of the Sept. 9 Event?