TLDR
- Goldman Sachs reiterates Buy rating on Apple stock with $266 price target ahead of September 9th iPhone 17 event
- Apple stock consolidates around $227, down 0.26% on Monday as investors show caution before product launch
- iPhone 17 lineup expected to include new “Air” model and larger screen sizes, with potential price increases for Pro models
- Technical support levels identified at $225-$223, with resistance at $231-$234 if momentum recovers
- Goldman forecasts iPhone revenue growth of 5% in fiscal 2025, accelerating to 7% in fiscal 2026
Apple shares steadied near $227 on Monday, slipping 0.26% as investors trim positions ahead of the company’s September product launch.
The tech giant’s stock has entered a consolidation phase after a multi-week rally, with traders watching key support levels closely.
Dollar volume reached $7.1 billion, ranking Apple fifth in market activity for the day. The pullback reflects typical pre-launch caution among investors who have grown accustomed to Apple’s product cycle patterns.
Goldman Sachs reiterated its Buy rating and $266 price target on the stock ahead of Apple’s “Awe-Dropping” special event scheduled for September 9th, 2025. The investment bank sees encouraging signs in the reported updates to the iPhone 17 lineup.
The upcoming product launch will feature the iPhone 17 series and updated Apple Watch portfolio, including Series 11, Ultra 3, and SE 3 models. Goldman analysts highlighted form factor changes such as an “Air” model and larger base screen sizes as positive developments.
Speculation surrounds the ultra-thin Air model, with reports suggesting it may carry a $100 premium without major design shifts. This has weighed on sentiment as investors question whether the pricing justifies the features.
Goldman also pointed to potential price increases for the iPhone 17 Pro and ongoing carrier competition that could drive device-related promotions. The firm forecasts iPhone revenue growth of 5% year-over-year in fiscal 2025.
Technical Picture Shows Key Inflection Zone
Chart analysis reveals Apple recently broke above a long descending line from its $260 peak and reclaimed moving averages in August. The current pullback has brought the stock toward $225.3, the 0.618 Fibonacci retracement level.
Technical support sits at $225-$223, aligning with the 20-day exponential moving average. Resistance appears layered at $229-$231, which if reclaimed would target $234-$235 and $240.6.
A break through $241 would clear the path toward $250 and possibly $260. On the downside, losing $214 on a closing basis would damage the higher-low structure and risk a slide toward $203-$205.
Momentum indicators show RSI at 61 after peaking at 67, signaling healthy digestion without overbought conditions. The stock’s technical structure suggests consolidation rather than trend exhaustion.
Analyst Sentiment Remains Constructive
Bank of America reiterated its Buy rating with a $250 price target, pointing to potential upside if product demos or pricing exceed expectations. Sell-side houses maintain bullish long-term targets despite near-term uncertainty.
Services revenue continues providing high-margin stability for Apple, though regulatory scrutiny of the App Store creates some uncertainty. The company’s default search agreement with Google also faces ongoing regulatory pressure.
Goldman’s revenue projections show acceleration to 7% year-over-year growth in fiscal 2026. This outlook assumes successful product launches and continued services expansion.
Historically, Apple shares experience “sell-the-news” phases in the 30-60 days following iPhone unveilings, particularly when upgrades center on incremental improvements. Expectations for this year focus on modest hardware differentiation.
Hardware supply chains appear healthier ahead of holiday promotions, while strategic strengths in silicon and software integration support the multi-year growth case. The company’s loyal installed base provides a foundation for ecosystem expansion.
Regulatory risks include pressure on App Store economics and potential changes to search distribution agreements. A stronger dollar could also impact international earnings in upcoming quarters.
The September event window represents a pivotal moment for Apple’s stock trajectory. Investors will watch whether product messaging, pricing strategy, or new services can reignite momentum toward higher price targets.
