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Investing.com - HSBC has reiterated its Hold rating and $220.00 price target on Apple (NASDAQ:AAPL), currently valued at $3.48 trillion, following the company’s product keynote on September 9. According to InvestingPro analysis, Apple is trading above its Fair Value, with multiple valuation metrics at premium levels.
The tech giant unveiled its new iPhone 17 series, which will be available from September 19, featuring hardware improvements in screens, cameras, and batteries that aligned with market expectations. The iPhone Air, measuring 5.6mm in thickness, was slightly thinner than the 5.5mm that had been anticipated.
Apple also introduced updated versions of its Apple Watch, including the Series 11, SE3, and Ultra 3 models, which HSBC noted contained improved hardware features that matched market expectations.
The company’s AirPods Pro 3 were highlighted for enhanced sound quality and noise cancellation capabilities that are twice as effective as the previous AirPods Pro 2 model.
HSBC acknowledged the "slickness" of the new phones and overall hardware innovation but maintained its neutral stance on the stock, as most of the product specifications had been leaked before the official announcement.
In other recent news, Apple announced the iPhone 17, featuring a new Center Stage front camera, a larger Super Retina XDR display with ProMotion technology, and improved durability through Ceramic Shield 2. The iPhone 17 Pro and Pro Max models were also introduced, boasting a redesigned aluminum unibody and an integrated vapor chamber cooling system for enhanced performance and battery life. Additionally, Apple unveiled the iPhone Air, its thinnest model yet, with a titanium frame and Ceramic Shield protection on both sides, available for pre-order starting September 12.
The company also launched the Apple Watch Series 11, which includes new health monitoring features like hypertension alerts and improved battery life. This model offers a display that is twice as scratch-resistant as previous versions. Apple further expanded its smartwatch lineup with the introduction of the Apple Watch SE 3, which now includes advanced health features such as sleep apnea notifications and an Always-On display. These developments reflect Apple’s ongoing focus on innovation and product enhancement.
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