Apple introduces new AI-based products, analysts bullish on stock, ETFs with Apple allocations recommended.

From Nasdaq: 2024-09-10 11:20:00

At Apple’s “It’s Glowtime” event, new AI-based iPhone 16 versions, Watch Series 10, Watch Ultra, and updated AirPods were introduced. Analysts are bullish on Apple, anticipating a big upgrade cycle and positive stock performance. Top ETFs with significant Apple allocations are VGT, FTEC, IYW, IWY, and MGK, all with Zacks ETF Rank #1 or 2.

Wedbush raised Apple’s target price by $15 to $300 post “Glowtime” event, citing AI integration’s growth potential. Analysts forecast a significant upgrade cycle kick-starting, with estimates of over 240 million iPhone units sold in fiscal 2025. Apple stock holds a Zacks Rank #3 and a Growth Score of B.

New iPhone 16 lineup includes iPhone 16, 16 Plus, Pro, and Pro Max with A18 Bionic chip and advanced features. Prices start at $799, and models will be available for pre-order on Sept. 13. AirPods 4 offers active noise cancellation, AirPods Pro 2 has hearing aid functions, and Watch Series 10 is the thinnest yet with advanced features and health monitoring.

Top ETFs with Apple allocations are VGT, FTEC, IYW, IWY, and MGK. Zacks’ free Fund Newsletter delivers key ETF information weekly. For the latest recommendations, download Zacks’ “5 Stocks Set to Double” report. Explore ETF research reports for VGT, FTEC, IYW, IWY, and MGK on Zacks.com to tap into Apple’s growth potential with AI technology.



Read more at Nasdaq: ETFs to Tap Apple’s Potential AI-Based Growth